Crude palm oil prices fell by 1.32% to Rs 553.10 per 10 kg in futures trade today due to weak global trend.
At the Multi Commodity Exchange, crude palm oil for delivery in May fell by Rs 7.40, or 1.32%, to Rs 553.10 per 10 kg, with an open interest of a single lot.
Likewise, the oil for delivery in March declined by Rs 6.50, or 1.17%, to Rs 550.50 per 10 kg, with a business turnover of a single lot.
Trading sentiment turned bearish after palm oil dropped for the first time in six days in global market, tracking losses in rival soybean oil, which fell on speculation that rain in Argentina may aid crops.
Market analysts attributed the fall in crude palm oil prices to the weakening trend in overseas market.
Meanwhile, crude palm oil for delivery in May slumped 3.1% to $1,181 a metric tonne on the Malaysia Derivatives Exchange, highest since February 24.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app