Palm oil down 0.5% on profit-booking

Oil for delivery in March contracts traded lower by 0.44%

Crude palm oil futures prices were down by 0.46% to Rs 455.10 per 10 kg in futures trading today as speculators booked profits at prevailing levels.

At the Multi Commodity Exchange, crude palm oil for delivery in April month eased by Rs 2.10, or 0.46% to Rs 455.10 per 10 kg in business turnover of 66 lots.

Similarly, oil for delivery in March contracts traded lower by Rs 2, or 0.44% to Rs 450.70 per 10 kg in 42 lots.

Analysts said profit-booking by speculators at existing levels amid subdued demand in the spot market against sufficient stocks mainly influenced crude palm oil prices at futures trade.