Crude palm oil prices drifted 1.04 per cent to Rs 549.30 per 10 kg in futures trade today as participants booked profits at prevailing levels, driven by a fall in demand in the spot market.
Besides, adequate stocks position on higher supplies from producing regions put pressure on crude palm oil prices.
At the Multi Commodity Exchange, crude palm oil for delivery in far-month May declined by Rs 5.80 or 1.04 per cent to Rs 549.30 per 10 kg in business turnover of 298 lots.
Likewise, the oil for delivery in April contracts shed Rs 5.40, or 0.97 per cent to Rs 550 per 10 kg in 349 lots.
Analysts said besides profit-booking by traders at existing levels, decline in demand in the spot market against ample stocks, influenced crude palm oil prices at futures trade.
