Crude palm oil declines 0.5% on overseas cues

Crude palm oil futures for February declined by Rs 2.30, or 0.51%, to Rs 448.40 per 10 kg in 375 lots.

At the Multi Commodity Exchange, the January contract shed Rs 2, or 0.45%, to Rs 441.50 per 10 kg in 153 lots.

Speculators offloading their positions affected the trade.

In global markets, palm oil declined for the first time in four days on concern that exports from Malaysia, the second-largest producer, may decrease as China buys less after tightening quality regulations on imports.

On the Malaysia Derivatives ExchangeThe, the oil fell 0.6% to $806 a metric tonne.