Crude palm oil futures extend slide, shed 0.17% on low demand

Continuing its falling streak for the third straight day, crude palm oil prices eased further by 0.17 per cent to Rs 584.60 per 10 kg in futures trade today as traders engaged in reducing their positions amid muted demand at domestic spot market.
At the Multi Commodity Exchange, crude palm oil for delivery in February declined by Re 1, or 0.17 per cent, to Rs 584.60 per 10 kg in a business turnover of 125 lots.
On similar lines, the oil for delivery in January shed 60 paise, or 0.10 per cent to Rs 592.50 per 10 kg in 125 lots.

Marketmen said, trimming of positions by participants due to subdued demand at the spot market against adequate stocks position, mainly kept crude palm oil prices lower at futures trade.