Continuing its losing streak for the fourth day in a row, crude palm oil prices fell further by 0.19 per cent to Rs 419 per 10 kg in futures trade today as participants engaged in reducing their positions amid easing demand in the spot market.
Moreover, adequate stocks position in the physical market on higher supplies from producing belts fuelled the downtrend.
At the Multi Commodity Exchange, crude palm oil for delivery in far-month February shed 80 paise, or 0.19 per cent to Rs 419 per 10 kg in business turnover of 143 lots.
Likewise, the oil for delivery in January contracts weakened by 60 paise, or 0.15 per cent to Rs 410.70 per 10 kg in 242 lots.
Marketmen said offloading of positions by traders, driven by tepid demand in the spot market against adequate stocks on higher supplies from producing regions mainly kept crude palm oil prices down at futures trade.
