Crude palm oil prices fell by Rs 2.80 per kg in futures trade today as speculators reduced their positions amid a weak trend overseas.
At the Multi Commodity Exchange, crude palm oil for August delivery fell by Rs 2.80, or 0.58%, to Rs 472 per 10 kg, with contract recorded of 275 lots.
The oil prices for September delivery also shed Rs 2.60, or 0.55%, to Rs 470 per 10 kg, with a trading volume of 323 lots. Similarly, the oil for October delivery eased by Rs 1.70, or 0.36%, to Rs 468.50 per 10 kg, with a trading volume of 68 lots.
Traders attributed the weakness in crude palm oil at futures trade to off-loading of positions by speculators amid a weakening overseas trend.
Meanwhile, Malaysia palm oil for October-delivery declined as much as 1.2% to 3,015 ringgit ($999) a tonne on the Malaysia Derivatives Exchange.