Crude palm oil extend losses by 0.1% on subdued demand

Crude oil for delivery in July contract weakened by 0.04%

Crude palm oil remained weak with prices declining by 0.10% to Rs 504.50 per 10 kg in futures trading today as speculators indulged in reducing positions amid a weak trend at spot market on subdued demand.

Further, adequate stocks availability in the physical market also put pressure on crude palm oil at futures trade.

At the Multi Commodity Exchange, crude palm oil for delivery in June month declined by 50 paise, or 0.10% to Rs 504.50 per 10 kg in business turnover of 31 lots.

Likewise, crude oil for delivery in July contract weakened by 20 paise, or 0.04% to Rs 502.50 per 10 kg in 217 lots.

Market analysts attributed persistent fall in crude palm oil futures to subdued demand in the spot market against adequate stocks position.