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Crude palm oil prices fell for the third consecutive day by losing 0.22% to Rs 510.30 per 10 kg in futures market today as speculators offloaded positions due to sluggish demand in the spot market.
At the Multi Commodity Exchange, crude palm oil for delivery in June fell Rs 1.10, or 0.22% to Rs 510.30 per 10 kg in a business turnover of 22 lots.
Similarly, the oil for delivery in July traded lower by a similar margin to Rs 506.50 per 10 kg in 7 lots.
Market analysts said offloading of positions by speculators on sluggish demand in the spot markets kept pressure on crude palm oil prices in futures trade.
