Crude palm oil futures extend losses for 3rd day

Crude palm oil futures fell for the third straight day today shedding Rs 4.10 or 0.76 per cent to Rs 535.50 per 10 kg as traders reduced their positions amid easing demand in spot market.
At the Multi Commodity Exchange, the March contract of crude palm oil fell by Rs 4.10, or 0.76 per cent, to Rs 535.50 per 10 kg in business turnover of 103 lots.
The April contract of the oil moved down by Rs 4.10, or 0.77 per cent to Rs 528.30 per 10 kg in 23 lots.
Analysts said offloading of positions by participants owing to tepid demand in spot market against ample stocks kept crude palm oil prices lower at futures trade.

Increased supply from producing belts weighed on prices at spot markets, they added.