Crude palm oil falls by 0.2% on higher supply

Continuing its losing streak for the sixth straight day, crude palm oil prices fell further by 0.21% to Rs 436.30 per 10 kg in futures trade today as speculators engaged in trimming positions amid persistent supplies in spot market.

At the Multi Commodity Exchange, crude palm oil for delivery in May month shed another 90 paise or 0.21% to Rs 436.30 per 10 kg in business turnover of 51 lots.

Likewise, the oil for delivery in April contracts weakened by 40 paise or 0.09% to Rs 435.10 per 10 kg in 5 lots.

Analysts said offloading of positions by speculators, driven by adequate stocks position on higher supplies from producing belts against sluggish spot market demand mainly kept pressure on crude palm oil prices at futures trade.