Crude palm oil extends losses, down 0.35%

Extending losses for the third straight day, crude palm oil prices were down 0.35 per cent to Rs 456.30 per 10 kg in futures trade today as speculators offloaded positions, tracking a weak trend at the spot market.
In futures trading at Multi Commodity Exchange, crude palm oil for delivery in July declined Rs 1.60, or 0.35 per cent, to Rs 456.30 per 10 kg in a business turnover of 29 lots.
Similarly, the oil for delivery in June contracts shed 90 paise, or 0.20 per cent, to Rs 456.50 per 10 kg in 13 lots.
Marketmen said offloading of positions by speculators on the back of sluggish demand in the spot market against adequate stock position mainly kept crude palm oil prices lower.