Continuing its falling trend for the third straight day, crude palm oil shed another 0.33 per cent to Rs 576.70 per 10 kg in futures trade today as traders engaged in trimming positions, taking negative cues from spot market on fall in demand.
Besides, ample stocks position on higher supplies from producing belts fueled the downtrend.
At the Multi Commodity Exchange, crude palm oil for delivery in October month declined by Rs 1.90, or 0.33 per cent to Rs 576.70 per 10 kg in business turnover of 26 lots.
Similarly, the oil for delivery in September contracts eased by Rs 1.30, or 0.22 per cent to Rs 595.60 per 10 kg in 38 lots.
Marketmen said offloading of positions by traders due to easing demand in the spot market against adequate stocks position mainly kept crude palm oil prices lower at futures trade.
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