Crude palm oil futures extend fall on easing demand

Extending its slide, crude palm oil prices fell further by 0.49 per cent to Rs 402.30 per 10 kg in futures trade today as speculators engaged in trimming positions, taking negative cues from spot market on falling demand.
At Multi Commodity Exchange, crude palm oil for delivery in September month fell by Rs 2, or 0.49 per cent to Rs 402.30 per 10 kg in business turnover of 62 lots.
Likewise, the oil for delivery in August contracts shed Rs 1.40, or 0.35 per cent to Rs 400.60 per 10 kg in 88 lots.
Analysts said persistent offloading of positions by speculators, tracking a weak trend at spot market on sluggish demand and subdued global cues mainly kept pressure on crude palm oil prices at futures trade.