Crude palm oil down on overseas cues

Crude palm oil futures prices fell by Rs 5.40 to Rs 425.30 per 10 kg today as traders reduced their positions, influenced by a weakening trend overseas.

At the Multi Commodity Exchange, the November contract fell by Rs 5.40, or 1.25%, to Rs 425.30 per 10 kg, with a business turnover of 501 lots.

The December contract lost Rs 5.10, or 1.19 per cent, to Rs 420.50 per 10 kg in 375 lots.

Market analysts said the fall in crude palm oil prices at futures trade was mostly attributed to a weakening trend overseas.

Meanwhile, palm oil declined by 2.50% to $762 a metric tonne on the Malaysia Derivatives Exchange.