Crude palm oil futures weakens on low demand

Crude palm oil prices were marginally lower by 0.07 per cent to Rs 434.40 per 10 kg in futures trade today as speculators trimmed positions, tracking a weak trend at spot market on sluggish demand.
At the Multi Commodity Exchange, crude palm oil for delivery in February month shed 30 paise, or 0.07 per cent to Rs 434.40 per 10 kg in business turnover of 126 lots.
Similarly, the oil for delivery in January contract traded lower by 10 paise, or 0.02 per cent to Rs 426.90 per 10 kg in 40 lots.
Market analysts said speculators trimmed positions due to weak demand in the spot market, leading to the fall in crude palm oil prices at futures trade.