Crude palm oil futures declines on profit-booking
- IPL spot-fixing case: Net widens, police watching 3 more players, other bookies
- IPL 2013: Imperious Brad Hodge powers Rajasthan Royals to qualifier
- Sonia Gandhi, PM Manmohan Singh slam BJP for disrupting Parliament, stalling bills
- IPL spot-fixing: 'Bookie' Vindoo was close to BCCI chief's son-in-law, say cops
- Jessica Lall case: Shayan Munshi to face perjury trial
Crude palm oil futures prices today declined by Rs 5.40 to Rs 414.50 per 10 kg as speculators booked profits due to subdued spot demand.
A weakening global trend after the Malaysian government announced a cut the crude palm oil export taxes and discontinue a tax free shipment quota from January 1.
At the Multi Commodity Exchange, the crude palm oil for delivery in November declined by Rs 5.40, or 1.28 per cent to Rs 414.50 per 10 kg in a business turnover of 585 lots.
Likewise, the oil for delivery in October contract shed Rs 5.20, or 1.25 per cent to Rs 410.30 per 10 kg in 365 lots.
Traders said besides profit-taking by speculators, subdued demand in the domestic markets led to decline in crude palm oil prices at futures market.
They said a weak trend in the Malaysian Derivative Exchange, the major global supplier of the oil, also influenced the market sentiment.
- Paddy shortfall blamed for mystery death of procurement officer
- 'Bookie' Vindoo was close to BCCI chief’s son-in-law: cops
- Net widens, police watching three more players, new set of bookies
- Suspected Islamists behead soldier on London street
- Malegaon 2006 case: NIA names four right wing terror suspects
- BJP invokes 'sarcasm, ridicule' against PM