Crude palm oil futures extend losses on muted demand

Crude palm oil prices fell further by 0.18 per cent, to Rs 551.10 per 10 kg in futures market today as traders engaged in cutting down their positions, tracking a weak trend at spot market on tepid demand.

At the Multi Commodity Exchange, crude palm oil for delivery in December eased by Re 1, or 0.18 per cent, to Rs 551.10 per 10 kg in a business turnover of 10 lots.

Likewise, the oil for November delivery shed 30 paise, or 0.05 per cent, to Rs 553.20 per 10 kg in 1 lot.

Market analysts said trimming of positions by participants due to low demand in the spot market, mainly kept crude palm oil prices down at futures trade.