Crude palm oil prices drifted lower by 0.34 per cent to Rs 668.80 per 10 kgs in futures market today as speculators cut exposure, driven by easing demand at the spot market.
Besides, sufficient stocks position following increased supplies from the producing regions, fuelled the downtrend.
At the Multi Commodity Exchange, crude palm oil for delivery in the current month was trading Rs 2.30, or 0.34 per cent, lower at Rs 668.80 per 10 kgs in a business turnover of 64 lots.
Likewise, the oil for delivery in the June shed Rs 2.20, or 0.32 per cent, to Rs 667.90 per 10 kgs in 100 lots.
Analysts said off-loading of positions by participants owing to slackened demand in the physical market against adequate stocks position kept crude palm oil prices lower in futures trade.
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