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Continued its losing streak for the fifth straight day, crude palm oil shed another 0.66% to Rs 407.70 per 10 kg in futures trade today owing to slackened demand in the spot market amid a weak global trend.
At Multi Commodity Exchange, crude palm oil for delivery in September month traded lower by Rs 2.70, or 0.66% to Rs 407.70 per 10 kg in business turnover of 78 lots.
On similar lines, the oil for delivery in August contracts shed Rs 1.80, or 0.44% at Rs 406.50 per 10 kg in 109 lots.
Analysts said offloading of positions by speculators on the back of low demand in the spot market amid weak global cues mainly influenced crude palm oil prices at futures trade.
