Crude palm oil falls 0.98% on global cues

July contract sheds 0.84%

Tracking a weak global trend, crude palm oil prices fell by Rs 5.60 to Rs 567.90 per 10 kg in futures trading today as speculators trimmed their positions.

At the Multi Commodity Exchange, crude palm oil for delivery in August fell by Rs 5.60, or 0.98%, to Rs 567.90 per 10 kg, with a business turnover of 480 lots.

The July contract shed Rs 4.80, or 0.84%, to Rs 565.40 per 10 kg, with a business turnover of 88 lots.

Marketmen said speculators offloaded their positions on the back of a weak global trend, which led to a fall in crude palm oil futures.

 

Meanwhile, palm oil for the October delivery fell by 1% to $922 a tonne on the Malaysia Derivatives Exchange.