Crude palm oil prices drifted lower by 0.11 per cent to Rs 542.50 per 10 kg in futures trade today as speculators indulged in reducing their positions, triggered by subdued demand in the spot market against adequate stocks position.
At the Multi Commodity Exchange, crude palm oil for delivery in August shed 60 paise or 0.11 per cent to Rs 542.50 per 10 kg in business turnover of 192 lots.
Market analysts said trimming of positions by participants due to sluggish demand in the spot market against adequate stocks position led to decline in crude palm oil prices at futures trade.
