MUMBAI (Commodity Online): Crude Palm Oil futures fell Friday tracking global cues amid weak domestic demand.
In MCX crude palm oil February contract closed at Rs.520.70 per Kg, lower by 1.51 per cent against the previous close.
In the morning session the contract traded at a range of Rs.527.10-520.50 perKg. Open interest of the contract stood at 4856 lots and volume traded is 1683 lots.
Investors shifted their focus to the U.S. Federal Reserve that is expected to keep interest rates at ultra-low levels at the end of a two-day meeting on Wednesday, potentially weakening the U.S. dollar. But strong demand in the cash market after the Lunar New Year holidays supported the futures market which has made little headway so far this year.
