NEW DELHI, Oct 11: Crude palm oil prices fell Rs 4 to Rs 514.80 per 10 kg in futures trade today on profit-booking by speculators amid subdued spot demand.
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 November delivery declined by Rs 4, or 0.77 per cent, to Rs 514.80 per 10 kg, with a business turnover of 103 lots.
Likewise, oil for delivery in October traded a shade lower at Rs 519.10 per 10 kg a loss of Rs 3.30, or 0.63 per cent, with a business turnover of 119 lots.
Traders said besides profit-taking by speculators, subdued domestic demand and a weak overseas trend led to a fall in crude palm oil prices at futures market.
Globally, palm oil retreated for the first time in six days in Malaysia on speculation that imports from India, the world’s biggest buyer, will decline before the country’s record oilseed harvest.
Meanwhile, palm oil delivery in December slid 0.60 per cent to 2,376 ringgit (USD 747) a tonne on the Bursa Malaysia Derivatives Exchange, the biggest drop since October 4. (PTI)
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