Crude palm oil traded marginally lower by Rs 1.60 to Rs 586.90 per 10 kg in futures trading today after speculators reduced their positions, tracking sluggish demand in the spot market against adequate stocks.
At the Multi Commodity Exchange, crude palm oil for February contract declined by Rs 1.60, or 0.27 per cent, to Rs 586.90 per 10 kg, with a business turnover of five lots.
Similarly, the oil for delivery in March contract weakened by 60 paise, or 0.20 per cent, to Rs 592.50 per 10 kg, with a business volume of four lots.
Traders said subdued demand in the spot market against adequate stocks mainly put pressure on the crude palm oil futures prices.