Crude palm oil futures decline on weak global cues

Crude palm oil prices declined by Rs 3.60 to Rs 415.30 per 10 kg in futures market today as speculators reduced positions in tandem with a weakening global trend.

A fall in demand against adequate stock positions in spot markets, also weighed on the crude palm oil prices at futures market.

At the Multi Commodity Exchange counter, crude palm oil for December-month fell by 3.60, or 0.86 per cent, to Rs 415.30 per 10 kg in one lot.

Similarly, the oil for delivery in October-month weakened by Rs 0.90, or 0.21 per cent, to Rs 417.80 per 10 kg in single lot. 

 

Meanwhile, palm oil prices declined lost 1.1 per cent to $877 a metric tonne on the Malaysia Derivatives Exchange, a major hub for trading in the oil.