Crude palm oil futures fall on global cues

Tracking a weakening global trend, crude palm oil futures prices showed weakness today and fell by Rs 13.50 to Rs 503.60 per 10 kg.

Subdued demand at the spot market owing to fall in demand also weighed on the crude palm oil futures prices.   

At the Multi Commodity Exchange, crude palm oil for delivery in May fell by Rs 13.50, or 2.61 per cent, to Rs 503.60 per 10 kg, with a trade volume of just one lot. 

Similarly, the oil for delivery in March declined by Rs 12, or 2.32 per cent, to Rs 505.70 per 10 kg, with a business turnover of just two lots. 

Traders said besides weakening trend in overseas markets, subdued demand in the spot market also attributed decline in crude palm oil prices at futures trade. 

Meanwhile, palm oil futures for the most-active June delivery fell 4.3 per cent to $1,044 a tonne on the Malaysian Derivatives Exchange, the lowest price since November 24.