Tracking a weakening global trend, crude palm oil prices declined by Rs 4 to Rs 554.40 per 10 kg in futures trade today as speculators offloaded their positions.
At the Multi Commodity Exchange, January crude palm oil declined by Rs 4, or 0.72%, to Rs 554.40 per 10 kg, with a business volume of 24 lots.
The February contract traded lower by 60 paise, or 0.61%, to Rs 556.70 per 10 kg, with a trade volume of 28 lots.
Market analysts said the fall in crude palm oil futures prices was mainly due to offloading of positions by speculators following a weakening global trend.
Meanwhile, palm oil futures for March delivery fell by 0.9% to $1,017 a tonne on the Malaysia Derivatives Exchange.
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