Crude palm oil falls by 0.6% on global cues
Speculators trimmed positions, tracking a weak global trend
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Crude palm oil futures traded lower by 0.60% to Rs 476.50 per 10 kg today as speculators trimmed positions, tracking a weak global trend.
At the Multi Commodity Exchange, crude palm oil for delivery in September fell by Rs 2.90, or 0.60% to Rs 476.50 per 10 kg in business turnover of 25 lots.
Similarly, the oil for delivery in August contract shed 70 paise, or 0.14% to Rs 507.30 per 10 kg in 68 lots.
Analysts said offloading of positions by speculators in tandem with a weak global trend mainly influenced crude palm oil prices at futures trade.
Meanwhile, palm oil retreated 0.4% to $661 a metric tonne on Malaysia Derivatives Exchange, the lowest level since October 2009.
At the Multi Commodity Exchange, crude palm oil for delivery in September fell by Rs 2.90, or 0.60% to Rs 476.50 per 10 kg in business turnover of 25 lots.
Similarly, the oil for delivery in August contract shed 70 paise, or 0.14% to Rs 507.30 per 10 kg in 68 lots.
Analysts said offloading of positions by speculators in tandem with a weak global trend mainly influenced crude palm oil prices at futures trade.
Meanwhile, palm oil retreated 0.4% to $661 a metric tonne on Malaysia Derivatives Exchange, the lowest level since October 2009.
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First Published: Aug 18 2014 | 11:25 AM IST