Crude palm oil down 0.2% on sluggish demand

Continued its losing streak for the fourth straight day, crude palm oil prices fell further by 0.29% to Rs 510.20 per 10 kg in futures trading today as speculators indulged in reducing positions amid sluggish demand in the spot market.

At the Multi Commodity Exchange, crude palm oil for delivery in October fell further by Rs 1.50, or 0.29% to Rs 510.20 per 10 kg in business turnover of 152 lots.

Similarly, the oil for delivery in November shed Rs 1.40, or 0.28% to Rs 503.70 per 10 kg in 16 lots.

Analysts attributed the continued fall in crude palm oil at futures trade to sluggish demand in the spot market against sufficient supplies.