Crude Palm Oil Settled Up By 0.69% At 480.1

Crude palm Oil settled up by 0.69% at 480.1 driven by pick-up in demand at the spot market. Besides, restricted supplies from producing belts too fuelled the uptrend. According to cargo surveyor Societe Generale de Surveillance, Malaysia’s February 1-20 exports fell 12.6 percent to 582,297 tons from 666,288 tons in corresponding period last month. Top buyers were European Union at 145,966 tons (138,563 tons), India at 89,200 tons (102,500 tons), United States at 74,028 tons (44,335 tons) and China at 43,155 tons (85,607 tons). Values in brackets are figures of corresponding period last month. The data showed a 2.6% output rise for the first 20 days of February compared with the same period in January.

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