Crude palm oil slips on global cues

PTI New Delhi | Updated on April 07, 2011

Crude palm oil prices fell by Rs 4 to Rs 514.50 per 10 kg in futures trade today as speculators reduced their positions, taking weak cues from global market.

At the Multi Commodity Exchange, crude palm oil for delivery in June fell by Rs 4 or 0.67 per cent to Rs 514.50 per 10 kg, with a business turnover of six lots.

Likewise, the oil for delivery in April shed Rs 3.50 or 0.67 per cent to Rs 518.70 per 10 kg, with an open interest of three lots.

Market analysts said fall in prices was due to reducing of positions by speculators along with a weakening global trend.

Meanwhile, crude palm oil futures for delivery in June fell by 1.8 per cent to $1,095 a tonne on the Malaysian Derivatives Exchange.

Published on April 07, 2011

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