Crude palm oil futures fall on global cues
Crude palm oil prices fell by Rs 4 to Rs 514.50 per 10 kg in futures trade today as speculators reduced their positions, taking weak cues from global market.
At the Multi Commodity Exchange, crude palm oil for delivery in June fell by Rs 4, or 0.67%, to Rs 514.50 per 10 kg, with a business turnover of six lots.
The April contract shed Rs 3.50, or 0.67%, to Rs 518.70 per 10 kg, with an open interest of three lots.
Market analysts said fall in crude palm oil futures prices was due to reducing of positions by the speculators along with a weakening global trend.
Meanwhile, crude palm oil futures for delivery in June fell by 1.8% to $1,095 a metric tonne on the Malaysia Derivatives Exchange.