NEW DELHI: Crude palm oil prices declined by Rs 2.60 to Rs 446.30 per 10 kg in futures trade today, as speculators offloaded their positions amid a weakening overseas trend. At the Multi Commodity Exchange, crude palm oil for delivery in February declined by Rs 2.60, or 0.57 per cent, to Rs 446.30 per 10 kg in a business turnover of 318 lots. Likewise, the oil for delivery in January shed Rs 2.40, or 0.54 per cent, to Rs 437 per 10 kg in a trade volume of 437 lots. Market analysts said offloading of positions by speculators in tandem with a weakening overseas trend mainly led to the fall in crude palm oil prices at futures trade. In Malaysia, palm oil declined on concerns that inventories may stay near record levels as exports droped and India, the world's biggest buyer, plans to tax imports to protect local growers. The oil fell by 0.9 per cent to $ 797 a ton on the Malaysia Derivatives Exchange.

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