Crude palm oil prices fell by 0.21% to 528 per 10 kg in futures trade today on selling by speculators amid a weakening overseas trend and adequate stocks position in the spot market.
Crude palm oil for November delivery fell by Rs 1.10, or 0.21%, to Rs 528 per 10 kg, with a trade volume of 83 lots.
Similarly, oil prices for delivery in October declined by 0.90 paise, or 0.17%, to Rs 527 per 10 kg, with a trading volume of 172 lots.
Traders said selling by speculators amid a weakening overseas trend and adequate stocks position in domestic markets mainly weighed on crude palm oil prices in the futures trade.
Meanwhile, palm for November delivery dropped as much as 0.60% to 2,331 ringgit (USD 709) a metric ton on the Bursa Malaysia Derivatives Exchange on speculation that increasing output in top growers Indonesia and Malaysia will boost stockpiles.
