Crude palm oil declines 0.29% on global cues

Offloading of positions by specualtors also affected the crude palm oil

Crude palm oil futures for January declined by Rs 1.30, or 0.29%, to Rs 440.50 per 10 kg in 662 lots at the Multi Commodity Exchange today.

The February contract shed 60 paise, or 0.13%, to Rs 448.80 per 10 kg in 548 lots.

Offloading of positions by speculators, a weakening global trend led to the fall in crude palm oil prices at futures trade.

Palm oil prices dropped 1.2% to Rs 801 a tonne on the Malaysia Derivatives Exchange.