Crude palm oil futures fall on global cues

Crude palm oil prices fell by Rs 2 to Rs 515.50 per 10 kg in futures trade today as speculators offloaded their positions, triggered by a weak global trend.

At the Multi Commodity Exchange, crude palm oil for delivery in July declined by Rs 2, or 0.39%, to Rs 515.50 per 10 kg, with a business turnover of 12 lots.

The June contract shed Rs 1.80, or 0.35%, to Rs 514.90 per 10 kg, with a business turnover of three lots.

Traders said fresh selling by speculators amid a weakening global trend mainly led to the fall in crude palm oil prices in the futures trade.

 

Meanwhile, palm oil for August delivery fell by 0.7% to USD 1,082 a tonne on the Malaysia Derivatives Exchange.