 "Crude palm oil softens on global cues")
Crude palm oil prices fell by 0.13% to Rs 470.70 per 10 kg in futures trading today as speculators offloaded their positions amid weak global cues.
Slackened demand in spot market against sufficient supplies also influenced crude palm oil prices.
At the Multi Commodity Exchange (MCX), the June contract traded lower by 60 paise, or 0.13% to Rs 470.70 per 10 kg in 76 lots.
Market analysts attributed the weakness in crude palm oil futures to weak global trend on output gains in Indonesia and Malaysia, the largest producers.
Meanwhile, palm oil for the contract for August delivery fell 0.6% to 771 dollar a metric tonne on the Bursa Malaysia Derivatives (BMD).
Slackened demand in spot market against sufficient supplies also influenced crude palm oil prices.
At the Multi Commodity Exchange (MCX), the June contract traded lower by 60 paise, or 0.13% to Rs 470.70 per 10 kg in 76 lots.
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The May contract shed 50 paise, or 0.11% to Rs 470.40 per 10 kg in 126 lots.
Market analysts attributed the weakness in crude palm oil futures to weak global trend on output gains in Indonesia and Malaysia, the largest producers.
Meanwhile, palm oil for the contract for August delivery fell 0.6% to 771 dollar a metric tonne on the Bursa Malaysia Derivatives (BMD).