Crude palm oil extends losses on global cues

Similarly,the oil for delivery in October traded lower by Rs 4.20,or 0.98 per cent,to Rs 424.40 per 10 kg,with a business turnover of 201 lots.

Traders said offloading of positions by speculators in line with a weakening global trend on speculation that inventories in Malaysia,the world’s second-biggest producer,will climb from a record as importers slow purchases,which influenced crude palm oil prices at futures trade.

Meanwhile,palm oil for January delivery fell by 2.2 per cent to USD 814 a tonne on the Malaysia Derivatives Exchange,the lowest since October 18.