Crude palm oil extend losses, sheds 0.1%

Extending losses for the second straight day, crude palm oil prices fell by another 0.11% to Rs 448.50 per 10 kg in futures trade today as speculators trimmed positions amidst weak demand in the spot market.

Also, adequate stocks position in the physical market following higher arrivals from producing regions influenced sentiment.

At the Multi Commodity Exchange, crude palm oil for delivery in November month eased by 50 paise, or 0.11% to Rs 448.50 per 10 kg in business turnover of 9 lots.

Likewise, the oil for delivery in December contract shed 20 paise, or 0.04% to Rs 455 per 10 kg in 12 lots.
 
Market analysts said offloading of positions by speculators on the back of sluggish demand in the spot markets mainly put pressure on crude palm oil prices at futures trade.