Crude Palm Oil On MCX Settled Up



Crude palm Oil on MCX settled up by 0.88% at 536.6 supported by robust demand following strong Indonesia and Malaysia CPO export data. Moreover, prices of CPO will also be supported by reports that Malaysia government may hike the amount of palm oil in diesel fuel pool for the transport sector to 10% beginning in June compared to 7% currently. In April, export of palm oil from Indonesia, the world's largest palm oil supplier, jumped 20% to 2.09 million tons on month, the Indonesian Palm Oil Association (GAPKI) said. 

Malaysia palm oil exports during May 1-31 climbed 11.81% compared to a month earlier on improved demand from China, European Union, India & Subcontinent and Middle East, data showed. Malaysia palm oil exports jumped to 1.23 million tons during May 1-31 compared to 1.10 million tons for the same period a month ago, Dow Jones reported citing data from Intertek, a private surveyor.

For Quick Trial – 8962000225 ✔
or mail us here: info@ways2capital.com
✆ - 0731-6554125 | Toll Free - 1800-3010-2007
Give a Missed Call for Free Trial - 09699997717
NewerStories OlderStories Home

0 comments: