Crude palm oil sheds (Rs 4.90 to Rs 462.10 per 10 kg) 1.05% on weak global cues

Raw palm oil prices shed Rs 4. 90 to Rs 462. 10 for each 10 kg in futures trade today as speculators decreased their positions, driven by a weak trend in abroad markets.

At the Multi Commodity Exchange, December crude hand oil declined by Rs 4. 90, or 1. 05%, in order to Rs 462. 10 per 10 kg, with a company turnover of three lots.

The October contract lost Rs 3, or even 0. 64%, to Rs 466. 40 per 10 kg within three lots.

Market analysts attributed the decline to the weakening global trend, prompting speculators to adjust their jobs in futures trade.

The December contract declined by two. 7% to $881 per metric tonne on the Malaysia Derivatives Trade, the lowest since October 8.

Source : Business-Standard