MSN:Crude palm oil futures down on weak overseas cues
New Delhi, Nov 25 (PTI) Crude palm oil futures prices fell by Rs 2.90 to 512.20 per kg today on selling by speculators, due to a weakening global trend as slowing economic growth and depreciating currencies curbed demand among importers.
Crude palm oil for the December contract fell by Rs 2.90, or 0.56 per cent, to Rs 512.20 per 10 kg, with a trading business of 42 lots, while January contract declined by Rs 2.30, or 0.44 per cent, to Rs 515.90 per 10 kg, with a trading volume of 41 lots.
Similarly, the oil for delivery in November eased by Rs 1.80, or 0.35 per cent, to Rs 510.50 per 10 kg, with a trading volume of eight lots.
Traders said selling pressure by speculators picked up, as the oil fell in overseas markets on falling demand.
In Malaysia, palm oil declined 0.90 per cent to USD 965 per tonne.