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Crude palm oil prices fell by 0.36% to Rs 493.90 per 10 kg in futures trade today as speculators offloaded their positions, tracking a weak global trend.
At the Multi Commodity Exchange, crude palm oil for delivery in August declined by Rs 1.80, or 0.36% to Rs 493.90 per 10 kg in business turnover of 16 lots.
Similarly, oil for delivery in September shed Rs 1.60, or 0.33% to Rs 486.30 per 10 kg in 10 lots.
Analysts said speculators offloaded their positions in tandem with a weak global trend as a decline in crude oil prices reduced the appeal of vegetable oils as biofuels, mainly influenced the sentiment.
Meanwhile, palm oil contract for October lost 0.8% to $690 a tonne on the Malaysia Derivatives.
