 "Palm oil down 0.4% on global cues")
Crude palm oil prices fell 0.38% to Rs 449.90 per 10 kg in futures trade today as speculators offloaded positions, tracking a weak global trend.
Besides, sluggish demand in the spot market against adequate stocks position imposed pressure on crude palm oil prices.
At the Multi Commodity Exchange, crude palm oil for delivery in November declined by Rs 1.70, or 0.38% to Rs 449.90 per 10 kg in business turnover of 11 lots.
Market 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 futures fell 0.2% to USD 668 a metric tonne on the Bursa Malaysia Derivatives Exchange.
Besides, sluggish demand in the spot market against adequate stocks position imposed pressure on crude palm oil prices.
At the Multi Commodity Exchange, crude palm oil for delivery in November declined by Rs 1.70, or 0.38% to Rs 449.90 per 10 kg in business turnover of 11 lots.
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Similarly, the oil for delivery in October shed Rs 1.30, or 0.29% to Rs 450.50 per 10 kg in 21 lots.
Market 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 futures fell 0.2% to USD 668 a metric tonne on the Bursa Malaysia Derivatives Exchange.