Continuing its losing streak for the third straight day, crude palm oil fell 0.59 per cent to Rs 505.60 per 10 kg in futures market today as traders engaged in reducing their positions, tracking a weak trend at the spot market on sluggish demand.
At the Multi Commodity Exchange, crude palm oil for delivery in October fell by Rs 3, or 0.59 per cent to Rs 505.60 per 10 kg in a business turnover of 133 lots.
Likewise, the oil for delivery in November shed Rs 2.20, or 0.45 per cent to Rs 489.10 per 10 kg in 28 lots.
Market analysts said trimming of positions by participants amid tepid demand in the spot market against ample stocks position on higher supplies from producing regions, mainly kept crude palm oil prices down at futures trade.
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