 "Crude palm oil extends losses on low demand, sheds 0.55%")
Continued its losing streak for the third straight day, crude palm oil fell by 0.55 per cent to Rs 450 per 10 kg in futures trade today as speculators trimmed positions, tracking a weak trend at spot market on lower demand.
At the Multi Commodity Exchange, crude palm oil for delivery in February month eased by Rs 2.50, or 0.55 per cent to Rs 450 per 10 kg in business turnover of 98 lots.
The March contract traded lower by Rs 2, or 0.44 per cent, to Rs 451.60 per 10 kg in 56 lots.
Market analysts said offloading of positions by speculators, driven by subdued demand in spot market against adequate stocks position, mainly kept pressure on crude palm oil prices at futures trade.
At the Multi Commodity Exchange, crude palm oil for delivery in February month eased by Rs 2.50, or 0.55 per cent to Rs 450 per 10 kg in business turnover of 98 lots.
The March contract traded lower by Rs 2, or 0.44 per cent, to Rs 451.60 per 10 kg in 56 lots.
Market analysts said offloading of positions by speculators, driven by subdued demand in spot market against adequate stocks position, mainly kept pressure on crude palm oil prices at futures trade.