Crude palm oil futures remain weak on muted demand, shed 0.19%

Continuing its losing streak for the third straight day, crude palm oil prices shed another 0.19 per cent to 575.70 per 10 kg in futures trade today as speculators engaged in trimming their positions, tracking a weak trend at spot market on sluggish demand.
At the Multi Commodity Exchange, crude palm oil for delivery in January was trading lower by Rs 1.10, or 0.19 per cent to Rs 575.70 per 10 kg in business turnover of 4 lots.
On similar lines, the oil for delivery in December contracts shed 30 paise, or 0.05 per cent to Rs 574 per 10 kg in 32 lots.

Analysts said offloading of positions by participants on the back of low demand in the physical market against adequate stocks position on higher supplies from growing regions, mainly kept crude palm oil prices lower at futures trade.