Palm falls to one-week low as related oils drag

The benchmark palm oil contract for November delivery on the Bursa Malaysia Derivatives Exchange closed down 1.4% at 2,221 ringgit ($530) per tonne, its biggest one-day decline since mid-August. It earlier fell as much 1.6% to 2,216 ringgit, its lowest level since Aug. 22.

KUALA LUMPUR: Malaysian palm oil futures fell more than 1% on Thursday, pressured by losses in related edible oils and concerns that top buyer India may increase import taxes.

The benchmark palm oil contract for November delivery on the Bursa Malaysia Derivatives Exchange closed down 1.4% at 2,221 ringgit ($530) per tonne, its biggest one-day decline since mid-August.