Crude Palm Oil On MCX Settled Up By 0.03% At 578.9

Crude palm Oil on MCX settled up by 0.03% at 578.9 on tight stocks position following lower supply from the producing belts. Though, some gains were capped on account of fall in demand in spot market. The import duty on crude palm oil have been reduced to 7.5 percent respectively, the order posted on a government website, showed. Malaysia palm oil exports during Sep 1-25 dropped 15% compared to a month earlier on weak demand from China and India & Subcontinent, data showed. Malaysia palm oil exports slipped to 1.11 million tons during Sep 1-25 compared to 1.31 million tons for the same period a month ago, Dow Jones reported citing data from Intertek, a private surveyor.

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