Crude Palm Oil futures trade lower on sluggish demand

Crude Palm Oil futures traded marginally lower on MCX due to sluggish demand in the domestic market against higher supplies from producing belts. Furthermore, rising output in the major producing belts too put pressure on crude palm oil prices. The contract for January delivery was trading at Rs 444.80, down by 0.20% or Rs 0.90 from its previous closing of Rs 445.70. The open interest of the contract stood at 1315 lots. The contract for February delivery was trading at Rs 451.50, down by 0.09% or Rs 0.40 from its previous closing of Rs 451.90. The open interest of the contract stood at 3525 lots on MCX.