Crude palm oil futures remain weak on tepid demand

Falling for the fifth day in a row, crude palm oil prices eased by another 0.46 per cent to Rs 411.30 per 10 kg in futures trading today on continued offloading of positions by participants, tracking a weak trend at spot market on muted demand.
At the Multi Commodity Exchange, crude palm oil for delivery in January declined by Rs 1.90, or 0.46 per cent, to Rs 411.30 per 10 kg, in a business turnover of 166 lots.
In a similar fashion, the oil for delivery in far-month February traded lower by Rs 1.50, or 0.36 per cent, to Rs 419.70 per 10 kg in 23 lots.

Marketmen said reducing of positions by traders due to sluggish demand in the spot market against adequate stocks on higher supplies from producing regions mainly kept crude palm oil prices down at futures trade.