Crude palm oil futures remain weak, shed 0.44% on low demand

Crude palm oil prices eased further by 0.44 per cent to Rs 568.50 per 10 kg in futures market today as speculators engaged in trimming their positions amid easing demand in the spot market against adequate stocks position.
At the Multi Commodity Exchange, crude palm oil for delivery in February declined by Rs 2.50, or 0.44 per cent to Rs 568.50 per 10 kg in business turnover of 231 lots.
Likewise, the oil for delivery in March contracts traded lower by Rs 2.10, or 0.37 per cent to Rs 559 per 10 kg in 93 lots.
Analysts said offloading of positions by traders on the back of tepid demand in the spot market against sufficient stocks position, mainly kept crude palm oil prices lower at futures trade.