Crude palm oil prices drifted lower by 0.77 per cent to Rs 504 per 10 kg in futures market today as participants booked profits at prevailing levels amid easing demand in the spot market.
At the Multi Commodity Exchange, crude palm oil for delivery in far-month August fell by Rs 3.90, or 0.77 per cent, to Rs 504 per 10 kg, in a business turnover of 89 lots.
Likewise, the oil for delivery in July declined by Rs 3.30, or 0.65 per cent, to Rs 507 per 10 kg in 281 lots.
Market analysts said besides profit-booking by traders at existing levels, fall in demand in the spot markets against adequate stocks position, weighed on crude palm oil prices at futures trade.
