Crude palm oil prices drifted further down by 0.17 per cent to Rs 637.70 per 10 kg in futures trading today as speculators engaged in reducing their holdings amid easing demand in the spot market.
At the Multi Commodity Exchange, crude palm oil for delivery in March declined by Rs 1.10, or 0.17 per cent to Rs 637.70 per kg in business turnover of 48 lots.
However, the oil for delivery in April held steady at Rs 647.50 per 10 kg in 74 lots.
Analysts said offloading of positions by participants due to fall in demand in the physical market against adequate stocks position on increased supplies from producing belts mainly, kept crude palm oil prices down at futures trade.
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