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Crude palm oil declines by 1% on global cues

Speculators reduced exposures tracking a weak global trend

Press Trust of India New Delhi
Last Updated : Jul 25 2013 | 11:38 AM IST
Crude palm oil prices fell by 1% to Rs 487 per 10 kg in futures trading today as speculators reduced exposures, tracking a weak global trend.
 
At the Multi Commodity Exchange, crude palm oil prices for delivery in August declined by Rs 4.90, or 1%, to Rs 487 per 10 kg in business turnover of 212 lots.
 
Similarly, the oil for delivery in July traded lower by Rs 1.20, or 0.24%, to Rs 495.50 per 10 kg in 55 lots.
 

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Market analysts said the fall in crude palm oil prices at futures trade to a weak trend overseas as supplies climbed the most since 1999 and demand expanded at the slowest pace in more than a decade.
 
Meanwhile, palm oil dropped 0.9% to $688 a tonne, the lowest since November 2009 on the Malaysia Derivatives.

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First Published: Jul 25 2013 | 11:37 AM IST

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