Crude palm oil futures down on overseas cues
At the Multi Commodity Exchange, crude palm oil for the January contract fell by Rs 5.60, or 1.31 per cent, to Rs 420.50 per 10 kg, with a trade volume of 466 lots. Similarly, oil for the December contract eased by Rs 4.80, or 1.14 per cent, to Rs 415.80 per 10 kg, with a trading volume of 757 lots.
Traders said offloading of positions by speculators driven by a weak trend in the global markets and increased stocks in the spot markets, mainly put pressure on the crude palm oil prices at futures.
Meanwhile, in Malaysia, palm oil declined 1.20 per cent to USD 752 per tonne.
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