Amid profit-booking by speculators, crude palm oil prices fell 0.46% to Rs 431.70 per 10 kg in futures trade today.
Furthermore, a weak trend in the physical market on falling demand against adequate stock following higher supplies from producing belts also put pressure.
At the Multi Commodity Exchange, crude palm oil for delivery in August fell Rs 2, or 0.46%, to Rs 431.70 per 10 kg in a business turnover of 65 lots.
Likewise, the oil for delivery in July contracts shed Rs 1.90, or 0.43%, to Rs 431.30 per 10 kg in 62 lots.
Technically market is getting support at 3226 and below same could see a test of 3197 level, and resistance is now likely to be seen at 3299, a move above could see prices testing 3343.
Furthermore, a weak trend in the physical market on falling demand against adequate stock following higher supplies from producing belts also put pressure.
At the Multi Commodity Exchange, crude palm oil for delivery in August fell Rs 2, or 0.46%, to Rs 431.70 per 10 kg in a business turnover of 65 lots.
Likewise, the oil for delivery in July contracts shed Rs 1.90, or 0.43%, to Rs 431.30 per 10 kg in 62 lots.
Technically market is getting support at 3226 and below same could see a test of 3197 level, and resistance is now likely to be seen at 3299, a move above could see prices testing 3343.
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