Crude palm oil prices moved down by Rs 2.70 or 0.76 per cent to Rs 354.70 per 10 kg in futures trade today on fresh selling by traders in tandem with a weakening global trend.
At the Multi Commodity Exchange, crude palm oil for August contract fell by Rs 2.70, or 0.76 per cent to Rs 354.70 per 10 kg, with an open interest of 1,024 lots.
Similarly, the oil for delivery in June contract weakened by Rs 1.90, or 0.52 per cent to Rs 363 per 10 kg, with a business volume of 1,363 lots.
Market analysts said fresh selling by traders, influenced by a weakening trend in overseas market led to a fall in crude palm oil prices at futures trade.
Meanwhile, palm oil futures fell to $725 a metric tonne on the Malaysia Derivatives Exchange.
