Crude palm oil futures remain weak on subdued demand

Crude palm oil remained weak for the second day with prices falling 0.21% to Rs 563 per 10 kg in futures market today due to subdued spot demand.

At the Multi Commodity Exchange, crude palm oil for delivery in November declined Rs 1.20, or 0.21%, to Rs 563 per 10 kg in business turnover of 47 lots.

Similarly, oil for delivery in December traded lower by Rs 1.10, or 0.19%, to Rs 564.90 per 10 kg in 29 lots.

Analysts said subdued demand in the spot market against adequate stocks position mainly kept pressure on crude palm oil prices at futures trade.