NEW DELHI: Tracking a weak trend in overseas markets, crude palm oil fell 0.24 per cent to Rs 453.80 per 10 kg in futures trade today as speculators offloaded their positions. At the Multi Commodity Exchange, crude palm oil for delivery in February declined by Rs 1.10, or 0.24 per cent, to Rs 453.80 per 10 kg in business turnover of 53 lots. Similarly, the oil for delivery in the March contract traded lower by Re 1, or 0.22 per cent, to Rs 461 per 10 kg in 312 lots. Market analysts attributed the fall in crude palm oil futures to weak global trend where palm oil dropped to a four-week low as production of palm and soybeans is set to climb this year on increased acreage mainly influenced crude palm prices at futures trade. Meanwhile, palm oil for the contract for May delivery fell 0.9 per cent to USD 789 a metric tonne, the lowest since January 29 on the Malaysia Derivatives Exchange.

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