Palm oil down 1.5% on profit-booking

Oil for delivery in October fell by 0.22%

Crude palm oil futures eased by 1.53% to Rs 463.10 per 10 kg today after speculators booked profits at prevailing levels amid subdued spot demand.

At the Multi Commodity Exchange, crude palm oil for delivery in November declined by Rs 7.20, or 1.53%, to Rs 463.10 per 10 kg in a business turnover of 1,043 lots.

Similarly, the oil for delivery in October fell by a Re, or 0.22%, to Rs 451.70 per 10 kg in 86 lots.

Analysts said besides profit-booking by speculators at existing higher levels, subdued demand in the spot market and a weak trend overseas, influenced crude palm oil futures.