Crude palm oil prices drifted lower by 0.38 per cent to Rs 595.50 per 10 kg in futures market today as speculators cut exposure, driven by easing demand at the spot market.
Besides, sufficient stocks position following increased supplies from the producing regions, fuelled the downtrend.
At the Multi Commodity Exchange, crude palm oil for delivery in the current month was trading down by Rs 2.30, or 0.38 per cent, to Rs 595.50 per 10 kg in a business turnover of 134 lots.
Likewise, the oil for delivery in September shed Rs 2.10, or 0.35 per cent, to Rs 595.20 per 10 kg in 135 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.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)