Crude palm oil futures dipped slightly to Rs 818.50 per 10 kg on October 30 as participants trimmed their position as seen by the open interest. Malaysian palm oil futures declined 1.44 percent to trade at 3,007 Ringgits on Bursa Malaysia Bhd.
The crude palm oil price fell on profit-booking by market players after it crossed 3,120 ringgits level yesterday.
In the futures market, Crude Palm Oil (CPO) for November delivery touched an intraday high of Rs 827.60 and an intraday low of Rs 817 per 10 kg on MCX. So far in the current series, CPO has touched a low of Rs 737.50 and a high of Rs 827.60.
CPO delivery for November dropped Rs 1.50, or 0.18 percent at Rs 818.50 per 10 kg at 14:45 hours IST with a business turnover of 5,011 lots.
CPO delivery for December slipped Rs 1.50, or 0.18 percent at Rs 811.60 per 10 kg with a business volume of 1,511 lots.
The value of November and December’s contracts traded so far is Rs 178.20 crore and Rs 10.98 crore, respectively.
Despite, market talks of Indian government planning to reduce import duty on edible oil will keep MCX CPO marginally positive today, said Kotak Securities.For all commodities related news, click here