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Crude palm oil extended losses for the second day and prices fell 0.15% to Rs 549.90 per 10 kg in futures market today owing to slackened demand against adequate stocks position.
At the Multi Commodity Exchange, crude palm oil for delivery in March declined by 80 paise, or 0.15% to Rs 549.90 per 10 kg in business turnover of 64 lots.
Similarly, the oil for delivery in February shed 20 paise, or 0.04% to Rs 548 per 10 kg in 41 lots.
Market analysts said besides sluggish demand in the spot market, adequate stocks availability mainly kept pressure on crude palm oil prices at futures trade.
