Crude Palm Oil On MCX Settled Up By 2.26% At 529.8

Crude palm Oil on MCX settled up by 2.26% at 529.8 on the back of pickup in demand at the spot market. Prices also seen supported on hopes of higher demand following reports of Malaysia's biodiesel plans. According to latest data released by SEA, import of RBD Palmolein during the first eight months of the current oil year i.e. from November 2015 to June 2016 doubled and reached at 17.77 lt from 9.13 lt replacing import of CPO and expected to increase further in the coming months.

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