Crude palm oil prices drifted lower by 0.42 per cent to Rs 530.60 per 10 kg in futures trade today as speculators booked profits at prevailing higher levels amid easing demand in spot market against adequate stocks.
At the Multi Commodity Exchange, crude palm oil for delivery in December month fell by Rs 2.20, or 0.42 per cent to Rs 530.60 per 10 kg in business turnover of 17 lots.
Likewise, the oil for delivery in November contracts shed Rs 1.40, or 0.27 per cent to Rs 528 per 10 kg in 11 lots.
Analysts said besides profit-booking by speculators at prevailing higher levels, fall in demand in the spot market mainly led to decline in crude palm oil prices at futures trade.
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