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Crude palm oil extended losses for the fourth straight session and prices fell further by 0.29% to Rs 554 per 10 kg in futures trading today due to sluggish demand in the spot market.
At the Multi Commodity Exchange, crude palm oil for delivery in February shed Rs 1.60, or 0.29% to Rs 554 per 10 kg in business turnover of 24 lots.
Likewise, the oil for delivery in January traded lower by Rs 1.50, or 0.27% to Rs 550.40 per 10 kg in 36 lots.
Analysts said subdued demand in the spot market against adequate stocks position in the physical market mainly kept pressure on crude palm oil prices for the fourth day at futures trade.
