Crude Palm Oil On MCX Settled Down By -0.22% At 583.5



Crude palm Oil on MCX settled down by -0.22% at 583.5 on profit booking after prices gained on supply worries from Malaysia. Malaysia's Jan. 1-10 palm oil exports +8.1% month on month to 351,907 tons said Intertek. The MPOB monthly data for December has reconfirm the supply tightness for Palm oil. Production has declined by 0.10 mn in line with the seasonal trend of production decline. Lower exports have offset the lower production which led to a steady stock. Stock continues to be on a five year low keeping the supply tightness story intact. India & Subcontinent's palm oil imports from Malaysia during first 25 days of the month climbed by 60.26% to 144,175 tons as compared to 89,960 tons in Nov 1-25.

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