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Crude palm oil futures extend losses on easing demand

Press Trust of India  |  New Delhi 

Continuing its losing streak for the third day, crude palm prices fell by 0.45 per cent to Rs 486.50 per 10 kg in futures trading today as speculators engaged in reducing positions, triggered by easing demand in the spot market.

Besides, ample stocks position on increased supplies from producing belts too fuelled the downtrend.

At the Multi Commodity Exchange, crude palm for delivery in current month fell by Rs 2.20, or 0.45 per cent, to Rs 486.50 per 10 kg, in a business turnover of 118 lots.

Likewise, the for delivery in July traded lower by Rs 1.90, or 0.39 per cent, to Rs 479.50 per 10 kg in 61 lots.

Analysts said trimming of positions by traders due to subdued demand in the spot market against adequate stocks position mainly attributed the slide in crude palm prices at futures trade.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, June 15 2017. 12:13 IST