Crude palm oil extended losses for the second straight by losing Rs 6.10 to Rs 433 per 10 kg in futures trading today as participants offloaded positions, taking negative cues from the overseas markets.
At the Multi Commodity Exchange, crude palm oil for delivery in November fell by Rs 6.10, or 1.39 per cent, to Rs 433 per 10 kg, with a business turnover of 542 lots.
Similarly, the oil for delivery in October traded lower by Rs 4.20, or 0.98 per cent, to Rs 424.40 per 10 kg, with a business turnover of 201 lots.
Traders said offloading of positions by speculators in line with a weakening global trend on speculation that inventories in Malaysia, the world's second-biggest producer, will climb from a record as importers slow purchases, which influenced crude palm oil prices at futures trade.
Meanwhile, palm oil for January delivery fell by 2.2 per cent to USD 814 a tonne on the Malaysia Derivatives Exchange, the lowest since October 18.
