Crude palm oil futures extend losses on profit-booking
At the Multi Commodity Exchange, crude palm oil for October delivery declined by Rs 4.70, or 0.89 per cent, to Rs 520.20 per 10 kg.
By PTI |
NEW DELHI: Crude palm oil extended its losing streak with prices falling by Rs 4.70 to Rs 520.20 per 10 kg in futures trade today on profit-booking by speculators driven by subdued spot market trend.
Besides, a weak trend in overseas market further fuelled the downtrend in crude palm oil futures.
At the Multi Commodity Exchange, crude palm oil for October delivery declined by Rs 4.70, or 0.89 per cent, to Rs 520.20 per 10 kg, with a business turnover of 90 lots.
Likewise, the oil for delivery in September traded a shade lower at Rs 532 per 10 kg, with a business turnover of 36 lots.
Traders said besides profit-taking by speculators on subdued domestic demand, a weak overseas trend led to a fall in crude palm oil prices at futures market.
Besides, a weak trend in overseas market further fuelled the downtrend in crude palm oil futures.
At the Multi Commodity Exchange, crude palm oil for October delivery declined by Rs 4.70, or 0.89 per cent, to Rs 520.20 per 10 kg, with a business turnover of 90 lots.
Likewise, the oil for delivery in September traded a shade lower at Rs 532 per 10 kg, with a business turnover of 36 lots.
Traders said besides profit-taking by speculators on subdued domestic demand, a weak overseas trend led to a fall in crude palm oil prices at futures market.
ADVERTISEMENT
In Malaysia, palm oil for December delivery traded lower at 2,270 ringgit (USD 705) a metric ton on the Bursa Malaysia Derivatives Exchange. Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
