Crude palm oil prices fell by 1.32% to Rs 553.10 per 10 kg in futures trade today due to weak global trend.
At the Multi Commodity Exchange, crude palm oil for delivery in May fell by Rs 7.40, or 1.32%, to Rs 553.10 per 10 kg, with an open interest of a single lot.
Likewise, the oil for delivery in March declined by Rs 6.50, or 1.17%, to Rs 550.50 per 10 kg, with a business turnover of a single lot.
Trading sentiment turned bearish after palm oil dropped for the first time in six days in global market, tracking losses in rival soybean oil, which fell on speculation that rain in Argentina may aid crops.
Market analysts attributed the fall in crude palm oil prices to the weakening trend in overseas market.
Meanwhile, crude palm oil for delivery in May slumped 3.1% to $1,181 a metric tonne on the Malaysia Derivatives Exchange, highest since February 24.
