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Extending its losing streak for the fourth straight day, crude palm oil prices shed 0.20% to Rs 505 per 10 kg in futures trade today as speculators reduced positions, tracking subdued demand in the spot market.
Adequate stocks position in the physical market also put pressure on crude palm oil prices, marketmen said.
At the Multi Commodity Exchange, crude palm oil for delivery in July fell by Re 1, or 0.20% to Rs 505 per 10 kg in business turnover of 3 lots.
Likewise, the oil for delivery in June contract traded lower by 40 paise, or 0.08% to Rs 508.80 per 10 kg in 5 lots.
