Crude palm oil futures remain weak, shed 0.45% on low demand

NEW DELHI, Jan 12: Crude palm oil prices fell further by 0.45 per cent to Rs 557 per 10 kg in futures trade today as speculators cut bets, taking negative cues from the spot market on easing demand.
Moreover, adequate stocks position on higher supplies from producing regions weighed on prices.
At the Multi Commodity Exchange, crude palm oil for delivery in January declined Rs 2.50, or 0.45 per cent, to Rs 557 per 10 kg in business turnover of 111 lots.
On similar lines, the oil for delivery in February contracts was trading Rs 2.50, or 0.44 per cent, lower at Rs 561 per 10 kg in 81 lots.
Analysts said offloading of positions by traders owing to slackened demand against sufficient stocks position kept crude palm oil prices down. (PTI)