Continuing its losing streak for the second straight day, crude palm oil fell 0.34 per cent to Rs 519 per 10 kg in futures market today as participants engaged in reducing their positions, tracking a weak trend at the spot market on sluggish demand. At the Multi Commodity Exchange, crude palm oil for delivery in April fell by Rs 1.80, or 0.34 per cent, to Rs 519 per 10 kg, in a business turnover of 134 lots. Likewise, the oil for delivery in March shed Rs 1.30, or 0.24 per cent, to Rs 532 per 10 kg in 158 lots. Market analysts said trimming of positions by participants amid tepid demand in the spot market against ample stocks position on higher supplies from producing regions, mainly kept crude palm oil prices down at futures trade.
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