Crude palm oil falls 0.81 pc on global cues

Tracking a weak global trend, crude palm oil prices fell by 0.81 per cent to Rs 549.40 per 10 kg in futures trade today as speculators offloaded their positions.
At the Multi Commodity Exchange, crude palm oil for delivery in February fell by Rs 4.50, or 0.81 per cent, to Rs 549.40 per 10 kg in business turnover of 61 lots.
In a similar fashion, the oil for delivery in January declined by Rs 3.80, or 0.69 per cent, to Rs 544.30 per 10 kg in 169 lots.
Analysts attributed the fall in crude palm oil futures to a weak global trend on concern that exports from Malaysia may decline as global supplies of alternative cooking oils increase.

Meanwhile, palm oil for March delivery lost as much as 1.5 per cent to USD 791 a metric tonne on the Malaysia Derivatives Exchange.