Crude palm oil prices drifted lower by 0.74 per cent to Rs 636.40 per 10 kg in futures market today as speculators cut down their positions in line with weak international prices and on muted spot demand.
Besides, higher inventories also dragged CPO prices in futures trade.
At the Multi Commodity Exchange, crude palm oil for delivery in the current month was trading Rs 4.80, or 0.74 per cent, lower at Rs 636.40 per 10 kg in a business turnover of 218 lots.
Likewise, the oil for delivery in the July shed Rs 4.30, or 0.67 per cent, to Rs 635.70 per 10 kg in 24 lots.
Analysts said off-loading of positions by participants owing to slackened demand in the physical market against adequate stocks position kept crude palm oil prices lower in futures trade.
Disclaimer: No Business Standard Journalist was involved in creation of this content
