30/11/2011 (MSN) - Tracking a weak trend in overseas markets, crude palm oil futures prices declined by Rs 2.30 to Rs 511.90 per 10 kg today as speculators offloaded their positions.

At the Multi Commodity Exchange, crude palm oil for delivery in December declined by Rs 2.30, or 0.45 per cent, to Rs 511.90 per 10 kg, with a business turnover of 23 lots.

Similarly, the oil for delivery in November shed Rs 1.10, or 0.22 per cent, to Rs 510.10 per 10 kg, with a trade volume of seven lots.

Market analysts said speculators offloaded their positions in tandem with a weakening global trend mainly led to the fall in crude palm oil futures prices.

Meanwhile, palm oil futures fell by 0.4 per cent on the Malaysia Derivatives Exchange.