Crude Palm Oil On MCX Settled Up By 0.12% At 505.3

Crude palm Oil on MCX settled up by 0.12% at 505.3 amid hopes of improvement in demand despite of expectation of higher output from Indonesia and Malaysia. Prices also seen supported on hopes of higher demand following reports of Malaysia's biodiesel plans. Oil output in Malaysia, the world's second biggest oil producer, climbed to 1.53 million tons in June compared to 1.36 million tons in May. Malaysia's palm oil stocks in June jumped 7.7% to 1.77 million tons compared to 1.64 million tons in May, data showed.

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