Crude palm Oil on MCX settled down by -0.79% at 538.8



Crude palm Oil on MCX settled down by -0.79% at 538.8 taking cues from international market on oversupply woes by making oil cheap in export market. Palm oil stockpiles in Malaysia declined in July as exports from the world’s second-largest producer surged to the highest this year. Inventories fell 0.2 percent to 1.77 million metric tons at the end of July from a revised 1.775 million tons a month earlier, according to data released by the Malaysian Palm Oil Board. Crude palm oil production rose 3.5 percent to 1.59 million tons, climbing for a fifth straight month while exports surged 21 percent to 1.38 million tons, the highest since December.

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