Crude palm oil prices drifted down by 0.57 per cent to Rs 641.50 per 10 kgs in futures trading today as speculators trimmed their positions, taking negative cues from spot market on fall in demand.
Besides ample stocks position on increased supplies from producing belts too fuelled the downtrend.
At the Multi Commodity Exchange, crude palm oil for delivery in March fell by Rs 3.70, or 0.57 per cent to Rs 641.50 per 10 kg in business turnover of 82 lots.
Similarly, the oil for delivery April shed Rs 3.20, or 0.49 per cent to Rs 648.20 per 10 kg in 133 lots.
Analysts said offloading of positions by traders owing to slackened demand in the physical market against sufficient stocks position mainly led to the slide in crude palm oil prices in futures trade.
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