Crude palm oil prices weakened by Rs 2.60 to Rs 474.90 per 10 kg in futures trade today as speculators reduced their positions on the back of a weakening global trend.
At the Multi Commodity Exchange, crude palm oil for delivery in July declined by Rs 2.60, or 0.54%, to Rs 474.90 with a business turnover of 93 lots.
Likewise, the oil for August contract delivery lost Rs 2.10, or 0.44%, to Rs 474 in 65 lots.
Market analysts said fresh selling by speculators in tandem with a weakening global trend mainly led to the decline in crude palm oil futures prices.
Meanwhile, palm oil fell by 1.2% on the Malaysia Derivatives Exchange.
