Crude Palm Oil On MCX Settled Up By 0.58% At 584.8

Crude palm Oil on MCX settled up by 0.58% at 584.8 tracking firmness in spot demand amid supply worries. Prices also seen supported on concerns over flooding due to heavy rain in the east cost of Peninsular Malaysia. Flooding in the eastern coast of Peninsular Malaysia may further hurt production, as it prevents workers from harvesting and hinders transport of fruit to crushing mills. Malaysia palm oil exports slipped by 5.7% to 1.08 million tons during Dec 1-31 compared to 1.15 millions tons for the same period a month ago on subdued demand from Middle East.

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