Crude palm oil extends fall, down 0.4%

Continuing its losing streak for the fourth straight day, crude palm oil prices were down 0.42% to Rs 449.80 per 10 kg in futures trade today as speculators engaged in reducing positions, triggered by easing demand in the spot market.

Also, adequate stock positions in the physical market on higher supplies from producing belts put pressure on crude palm oil prices.

At Multi Commodity Exchange, crude palm oil for delivery in June shed Rs 1.90, or 0.42% to Rs 449.80 per 10 kg in business turnover of 82 lots.

Also, the oil for delivery in July contracts eased by Rs 1.80, or 0.40% to Rs 450.10 per 10 kg in 44 lots.
 
Marketmen said offloading of positions by speculators due to easing demand demand in the spot market against sufficient stock position mainly kept crude palm oil prices down.