NEW DELHI: Tracking a weak global trend, crude palm oil prices declined by Rs 6.30 to Rs 428 per 10 kg in futures trade today as speculators off-loaded their positions.
At the Multi Commodity Exchange, crude palm oil for delivery in October fell by Rs 6.30, or 1.45 per cent, to Rs 428 per 10 kg, with a business turnover of 304 lots.
Similarly, the oil to be delivered in November lost Rs 5.50, or 1.24 per cent, to Rs 439.50 per 10 kg, with a business turnover of 941 lots.
Marketmen said speculators offloaded positions due to a weak global trend on concern that stockpiles in Malaysia will expand and as rains improved Brazilian soybean crop prospects, boosting global vegetable oil supplies, influencing crude palm oil prices at futures trade.
Meanwhile, palm oil for the contract for January delivery fell 2.8 per cent to $ 829 a tonne on the Malaysia Derivatives Exchange, the most since October 15.
