Crude palm oil futures slide 0.34% on muted demand

Crude palm oil prices weakened by 0.34 per cent to Rs 584.80 per 10 kg in futures market today as participants reduced their exposure on the back of subdued demand in the spot market against ample stocks.
At the Multi Commodity Exchange, crude palm oil for delivery this month was trading down by Rs 2, or 0.34 per cent, to Rs 584.80 per 10 kg, in a business turnover of 84 lots.
Similarly, the oil for delivery in February traded lower by Rs 1.90, or 0.33 per cent, to Rs 573.70 per 10 kg in 47 lots.
Market analysts said trimming of positions by traders following sluggish demand in the spot market against adequate stocks position on increased supplies mainly led the crude palm oil prices to trade lower at futures trade.