NEW DELHI, June 14: Crude palm oil futures prices fell by 0.48 per cent to Rs 495.20 per 10 kg today, after speculators booked profits at prevailing levels amid a weakening trend overseas.
At the Multi Commodity Exchange, crude palm oil for delivery in July declined by Rs 2.40, or 0.48 per cent, to Rs 495.20 per 10 kg in business turnover of 126 lots.
Similarly, the oil for delivery in June traded lower by Rs 2, or 0.40 per cent, to Rs 493.90 per 10 kg in 67 lots.
Analysts said besides profit-booking by speculators at existing levels, a weak trend overseas on speculation that exports from Malaysia, the world’s second-largest producer, may decline as a slowing global economy curbs demand for cooking oils, mainly influenced crude palm oil futures prices.
Meanwhile, palm oil for delivery in August lost by 0.90 per cent to 2,402 ringgit (USD 769) a tonne on the Malaysia Derivatives Exchange. (PTI)
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