ET:Crude palm oil futures down on weak global cues
NEW DELHI: Falling for the third straight day, crude palm oil futures prices lost Rs 1.50 to Rs 457.40 per 10 kg on Wednesday as speculators trimmed positions, amid a weak global trend.
At the Multi Commodity Exchange, crude palm oil for delivery in April fell by Rs 1.50, or 0.33 per cent, to Rs 457.40 per 10 kg in business turnover of 408 lots.
Likewise, the oil for delivery in March contract shed Rs 1.10, or 0.24 per cent, to Rs 453.70 per 10 kg in 370 lots.
Analysts said reports of a weak trend in the global market mainly put pressure on the crude palm oil futures prices.
Meanwhile, palm oil prices for May contract lost 1.5 per cent to $ 765 a tonne, the lowest since March 4 on the Malaysia Derivatives Exchange.
