Crude palm oil remains weak on sluggish demand

Crude palm oil prices remained weak for the second straight day with prices falling by Rs 3 per 10 kg in futures trading today on sluggish demand against adequate stocks position.

At the Multi Commodity Exchange, the April delivery declined by Rs 3, or 0.50%, to Rs 597 per 10 kg, with a business turnover of 343 lots.

The March delivery shed Rs 1.70, or 0.29%, to Rs 591 per 10 kg, with a business turnover of 26 lots.

Market analysts said sluggish demand in the spot market against adequate stocks position mainly led to a decline in crude palm oil futures prices.