Crude palm oil falls by 0.1% on sluggish demand

Extending losses for the second straight day, crude palm oil prices shed 0.14% to Rs 439 per 10 kg in futures trading today as speculators indulged in reducing positions due to subdued demand in spot market.

At the Multi Commodity Exchange, crude palm oil for delivery in April eased by 60 paise, or 0.14%, to Rs 439.00 per 10 kg in business turnover of 162 lots.

Similarly, the oil for delivery in May traded lower by 50 paise, or 0.11%, to Rs 441.10 per 10 kg in 162 lots.

Analysts said besides sluggish demand in the spot market, adequate stocks position on higher supplies from producing belts kept pressure on crude palm oil prices at futures trade.