Crude palm oil weakens on sluggish demand

Crude palm oil prices traded marginally lower by 0.06% to Rs 538 per 10 kg in futures trade today, owing to sluggish demand in the spot market against adequate stocks position.

At the Multi Commodity Exchange, the February contract traded lower by 30 paise, or 0.06%, to Rs 538 per 10 kg in business turnover of 17 lots.

The March contract shed 10 paise, or 0.02%, to Rs 549.80 per 10 kg in 387 lots.

Traders said besides sluggish demand in the spot market, adequate stocks position also influenced crude palm oil prices at futures market.