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Extending losses for the third straight day, crude palm oil prices fell further by 0.69% to Rs 443.90 per 10 kg in futures trade today as traders trimmed positions, tracking a weak trend at spot market on sluggish demand.
Besides, adequate stocks in the market on higher supplies from producing belts kept pressure on crude palm oil prices.
At Multi Commodity Exchange, crude palm oil for delivery in July fell Rs 3.10, or 0.69% to Rs 443.90 per 10 kg in a business turnover of 112 lots.
The oil for delivery in June contracts shed 90 paise, or 0.20% to Rs 451.50 per 10 kg in 21 lots.
Market analysts said offloading of positions by traders, triggered by sluggish demand at the spot market against sufficient stocks mainly kept crude palm oil prices lower at futures trade.
