Crude palm oil futures remain weak on sluggish demand

Crude palm oil remained weak for the second straight day and prices shed another 0.20 per cent to Rs 537.40 per 10 kg in futures market today on sluggish demand in the spot market against sufficient supplies.
At the Multi Commodity Exchange, crude palm oil for delivery in February fell further by Rs 1.10, or 0.20 per cent, to Rs 537.40 per 10 kg in a business turnover of 39 lots.
Similarly, oil for delivery in January traded lower by 60 paise, or 0.11 per cent, to Rs 533.50 per 10 kg in 25 lots.
Analysts said sluggish demand against sufficient supplies mainly kept pressure on crude palm oil prices at futures trade.