Crude Palm Oil Settled Up By 0.48% At 401.1

Crude palm Oil settled up by 0.48% at 401.1 due to pickup in demand at the spot market and firming trend in the overseas market. Crude palm oil improved as the Indonesian crude palm oil production slipped 7% in November to 2.8 million tons from a month ago, as the harvest season ended and monsoon weather arrived in key growing areas. Malaysian shipments for the tropical oil fell this month on low consumer demand, contributing to record high stockpiles of near 3 million tonnes at the end of last month. Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance reported a near 25-percent drop in exports from Dec. 1-20 compared with the same time a month ago. 

Malaysia palm oil exports during Dec 1-25 slumped 15.83% from a month earlier on weak demand from China, European Union, India & subcontinent, and Middle East, DowJones reported. Malaysia palm oil exports dropped to 1.01 million tons during Dec 1-25 compared to 1.20 million tons for the same period a month ago, Dow Jones reported citing data from Intertek a private surveyor showed. 

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