Crude palm oil prices weakened by 0.54 per cent to Rs 572.80 per 10 kg in futures market today as participants reduced their exposure due to subdued demand in the spot market against ample stocks.
At the Multi Commodity Exchange, crude palm oil for far-month February delivery was trading down by Rs 3.10, or 0.54 per cent, to Rs 572.80 per 10 kg, in a business turnover of 520 lots.
Similarly, the oil for delivery in January traded lower by Rs 1.40, or 0.23 per cent, to Rs 585.40 per 10 kg in 174 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.
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