Crude Palm Oil On MCX Settled Down By -2.29% At 508.6

Crude palm Oil on MCX settled down by -2.29% at 508.6 on account of fall in demand at the spot market. Further, ample stocks position following higher supplies from the producing belts too fuelled the downtrend. Prices also dropped on subdued demand following weak Malaysian palm oil export data from Sep 1-30 period. Malaysia palm oil exports during Sep 1-30 dropped 15% compared to a month earlier on weak demand from China and India & Subcontinent, data showed. Malaysia palm oil exports slipped to 1.37 million tons during Sep 1-30 compared to 1.32 million tons for the same period a month ago, Dow Jones reported citing data from Intertek, a private surveyor.

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