Crude palm oil futures traded lower by Rs 1.60 at Rs 550.30 per 10 kg today, extending yesterday's losses, due to subdued demand amid a weakening global trend.
At the Multi Commodity Exchange, crude palm oil for delivery in February fell by Rs 1.60, or 0.29%, to Rs 550.30 per 10 kg, with a business turnover of 49 lots.
The January contract traded lower by Rs 1.40, or 0.25%, to Rs 548.60 per 10 kg, with an open interest of 123 lots.
Market analysts said the fall in crude palm oil prices at futures trade was due to offloading of positions by speculators amid a subdued demand in the spot markets.
A weakening global trend also kept pressure on the prices, they said.
Meanwhile, March palm oil shed 0.6% to $1,021 a tonne on the Malaysia Derivatives Exchange.
