CPO On MCX Settled Down -0.54% At 554.5

CPO on MCX settled down -0.54% at 554.5 on reports of slight increase in November palm oil production and increase in stocks. Malaysia palm oil reserves may seen at 4-month high in November, survey showed. Palm oil stockpiles in Malaysia likely swelled to a four month high in November as lacklustre exports outpaced lower production in the world's second largest grower. Inventories rose 8.3% to 1.7 million tons from October, in what would be the steepest monthly increase since August last year, according to sources. There are signs that China's palm oil imports, which have fallen in recent years, are picking up again, said the Malaysian Palm Oil Council (MPOC). "There are many reasons for the slowdown in palm oil orders from China in the last few years.

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