Crude palm oil prices fell further by 0.63 per cent to Rs 537.50 per 10 kg in futures market today as traders engaged in trimming their positions, triggered by higher supplies from producing regions at spot market against sluggish demand.
In futures trading at the Multi Commodity Exchange, crude palm oil for delivery in May drifted lower by Rs 3.40, or 0.63 per cent, to Rs 537.50 per 10 kg, in a business turnover of 315 lots.
Likewise, the oil for delivery in far-month June edged down by Rs 2.60, or 0.49 per cent, to Rs 531.40 per 10 kg in 124 lots.
Analysts said offloading of positions by participants, driven by higher supplies from producing regions in the physical market against tepid demand, mainly kept crude palm oil prices at futures trade lower.
