Crude palm oil eases on weak global trend

PTI New Delhi | Updated on February 18, 2011

Crude palm oil prices fell by Rs 1.80 to Rs 574.10 per 10 kg at the futures trade today as speculators reduced their positions on the back of a weakening global trend.

At the Multi Commodity Exchange, crude palm oil for April contract was being traded lower by Rs 1.80 or 0.31 per cent at Rs 574.10 per 10 kg in a single lot. Similarly, February contract shed 40 paise or 0.07 per cent to Rs 566.40 per 10 kg in one lot.

Market analysts said reducing of positions by speculators in tandem with a weakening global trend mainly led to the decline in crude palm oil prices.

Meanwhile, palm oil futures were down by 0.9 per cent at the Malaysia Derivatives Exchange.

Published on February 18, 2011

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