 "Crude palm oil falls by 0.8% on sluggish demand")
Continued its losing streak for the fourth straight day, crude palm oil prices shed another 0.82% to Rs 434.80 per 10 kg in futures trading today largely in tandem with a trend at spot market on subdued demand.
Besides, expectations of higher output also put pressure on crude palm oil.
At the Multi Commodity Exchange, crude palm oil for delivery in January month shed Rs 3.60, or 0.82% to Rs 434.80 per 10 kg in business turnover of 29 lots.
Market analysts said offloading of positions by speculators amidst sluggish demand in the spot market against adequate stocks position mainly kept crude palm oil prices lower at futures trade.
Besides, expectations of higher output also put pressure on crude palm oil.
At the Multi Commodity Exchange, crude palm oil for delivery in January month shed Rs 3.60, or 0.82% to Rs 434.80 per 10 kg in business turnover of 29 lots.
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Also, the oil for delivery in February contracts eased by Rs 3.50, or 0.79% to Rs 441 per 10 kg in 116 lots.
Market analysts said offloading of positions by speculators amidst sluggish demand in the spot market against adequate stocks position mainly kept crude palm oil prices lower at futures trade.