CPO On MCX Settled Up 0.49% At 570.5



CPO on MCX settled up 0.49% at 570.5 on supply worries as production in Malaysia likely lower than expected as trees taking longer-than-predicted to recover from drought. In November, Malaysia's production of crude palm oil dropped 6.1% to 1.57 million tons from a month earlier and the stocks were around 89,000 million tons down by 49% on yearly basis as per Malaysian Palm Oil Board report. Indonesian palm oil exports probably rose to the highest level in 13 months in November as some buyers replenished stockpiles. Exports of palm and kernels oils increased 5.4% from October to 2.54 million tonnes.

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