Crude palm oil prices traded lower by 0.42 per cent to Rs 638.50 per 10 kg in futures trade today as speculators cut bets tracking a weak trend overseas.
At the Multi Commodity Exchange, crude palm oil for delivery in May fell by Rs 2.70, or 0.42 per cent, to Rs 638.50 per 10 kg in a business turnover of 122 lots.
Likewise, the oil for delivery in April shed Rs 2.30, or 0.36 per cent, to Rs 633.80 per 10 kg in 123 lots.
Analysts said, offloading of positions by traders in tandem with a weak trend overseas amid easing demand in the physical market, mainly weighed on crude palm oil prices at the futures trade.
Meanwhile, the benchmark palm oil for July delivery slid 1.3 per cent to 2,369 ringgit (USD 609.55) a tonne on the Bursa Malaysia Derivatives Exchange.
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