Crude palm oil falls by 0.5% on subdued demand

Extending losses for the fourth straight day, crude palm oil prices fell by another 0.50% to Rs 453.40 per 10 kg in futures trade today as speculators reduced positions, driven by a fall in demand in the spot market.

Adequate stocks position in the physical market on increased supplies from producing belts also put pressure on crude palm oil prices.

At the Multi Commodity Exchange, crude palm oil for delivery in February month declined by Rs 2.30, or 0.50% to Rs 453.40 per 10 kg in business turnover of 116 lots.

In a similar fashion, the oil for delivery in March contracts shed Rs 2.10, or 0.46% to Rs 457.50 per 10 kg in 83 lots.
 
Market analysts said offloading of positions by speculators on the back of easing demand in spot market, mainly influenced crude palm oil prices at futures trade.