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Extending its weakness for the second straight day, crude palm oil prices fell by another 1.19% to Rs 422.70 per 10 kg in futures trade today as speculators engaged in reducing positions, tracking a weak trend at spot market on sluggish demand.
At the Multi Commodity Exchange, crude palm oil for delivery in October fell by Rs 5.10, or 1.19% to Rs 422.70 per 10 kg in business turnover of 323 lots.
Also, the oil for delivery in September eased by Rs 4.10, or 0.95% to Rs 428.40 per 10 kg in 344 lots.
Market analysts said offloading of positions by speculators following low demand in the spot market against adequate stocks position mainly kept pressure on crude palm oil prices at futures trade.
