Crude palm oil prices drifted lower by 0.90 per cent to Rs 582.80 per 10 kg in futures trade today as traders reduced exposure amid tepid demand in the spot market against adequate stocks position.
At the Multi Commodity Exchange, crude palm oil for delivery in February fell by Rs 5.30, or 0.90 per cent, to Rs 582.80 per 10 kg, in a business turnover of 439 lots.
Similarly, the oil for delivery in January shed Rs 2.20, or 0.37 per cent, to Rs 595 per 10 kg in 61 lots.
Market analysts said trimming of positions by participants on the back of subdued demand in the spot market against ample stocks position on increased supplies from producing regions mainly led to the decline in crude palm oil prices at futures trade.
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