13/01/2012 (Business Standard) - Crude palm oil futures declined by Rs 2.70 to Rs 534.10 per 10 kg today, as speculators offloaded their positions amid a weakening global trend.

At the Multi Commodity Exchange, January crude palm oil declined by Rs 2.70, or 0.50%, to Rs 534.10 per 10 kg in business turnover of 29 lots.

The February delivery shed Rs 1.70, or 0.32%, to Rs 536.50 per 10 kg in 71 lots.

Market analysts said offloading of positions by speculators in tandem with a weakening global trend mainly led to the fall in crude palm oil prices at futures trade.

Meanwhile, palm oil futures prices for March delivery dropped 1.1% to $1,019 a tonne on the Malaysia Derivatives Exchange.