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Crude palm oil remained weak for the second day and prices fell by another 0.18% to Rs 379.30 per 10 kg in futures trade today as participants engaged in reducing their positions, tracking a weak trend at spot market on sluggish demand.
Besides, adequate stocks position higher supplies from the major producing regions weighed on crude palm oil prices.
At the Multi Commodity Exchange, crude palm oil for delivery in September month traded lower by 70 paise, or 0.18% to Rs 379.30 per 10 kg in business turnover of 67 lots.
Likewise, the oil for delivery in October contracts eased by 30 paise, or 0.08% to Rs 385 per 10 kg in 21 lots.
Market analysts said apart from subdued demand at spot market, adequate stocks position on higher supplies from producing belts mainly kept pressure on crude palm oil prices at futures trade.
