ET:Crude palm oil futures remain weak on global cues
NEW DELHI: Crude palm oil prices declined further by 0.18 per cent to Rs 454.70 per 10 kg in futures market on Friday as speculators trimmed their positions in tandem with a weak global trend.
At the Multi Commodity Exchange, crude palm oil for delivery in March declined by 80 paise, or 0.18 per cent, to Rs 454.70 per 10 kg in business turnover of 242 lots.
Similarly, the oil for delivery in the April contract down 70 paise, or 0.15 per cent, to Rs 460 per 10 kg in 206 lots.
Market analysts said offloading of positions by speculators in line with a weak global trend mainly influenced crude palm oil prices at futures trade.
Meanwhile, palm oil for the contract for May delivery dropped 1.1 per cent to $ 766 a metric tonne on the Malaysia Derivatives Exchange.
