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Extending losses for the fifth straight day, crude palm oil prices shed another 0.50 per cent to Rs 439.90 per 10 kg in futures trade today as speculators pared positions, driven by easing demand in the spot market.
Also, adequate stocks in the physical market on higher supplies from producing belts influenced crude palm oil prices.
At the Multi Commodity Exchange, crude palm oil for delivery in May month declined by Rs 2.20 or 0.50 per cent to Rs 439.90 per 10 kg in business turnover of 193 lots.
In a similar fashion, the oil for delivery in April contracts traded lower by Rs 1.90 or 0.43 per cent to Rs 437.90 per 10 kg in 45 lots.
Analysts said apart from weak trend at spot market on sluggish demand, adequate stocks position on higher supplies from producing regions, mainly kept crude palm oil prices lower at futures trade.
