Continuing its losing streak for the third day, crude palm oil traded lower by 0.41 per cent to Rs 529 per 10 kg in futures trade today as participants engaged in reducing their exposures, driven by sluggish demand in the spot market against sufficient stocks.
At the Multi Commodity Exchange, crude palm oil for delivery in June moved down by Rs 2.20, or 0.41 per cent, to Rs 529 per 10 kg, in a business turnover of 204 lots.
Likewise, the oil for delivery in far-month July eased by Rs 2, or 0.38 per cent, to Rs 524.30 per 10 kg in 30 lots.
Market analysts said offloading of positions by traders amid subdued demand in the spot markets against ample stocks position on higher supplies from producing belts, kept crude palm oil prices lower at futures trade.
