Crude palm oil futures extend slide on low demand

Continuing its losing streak for the fourth straight day, crude palm oil prices eased by 0.11 per cent to Rs 567.80 per 10 kg in futures trade today as speculators reduced exposure, taking negative cues from the spot market on easing demand.
At the Multi Commodity Exchange, crude palm oil for delivery in December month shed 60 paise, or 0.11 per cent to Rs 567.80 per 10 kg in business turnover of 53 lots.
The oil for delivery in January was trading lower by a similar margin to Rs 569.60 per 10 kg in 39 lots.
Analysts said cutting down of positions by participants owing to muted demand in the physical market against adequate stocks position on higher supplies from producing belts mainly kept crude palm oil prices lower at futures trade.