Crude Palm Oil On MCX Settled Up By 0.91% At 588.8

Crude palm Oil on MCX settled up by 0.91% at 588.8 tracking firmness in spot demand and overseas prices on supply worries from Malaysia. Prices also seen supported on production concerns and expectation of good export demand. 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. Malaysia and Indonesia raised export tax and weak demand. Indonesia raises export tax to $3 per tons in January 2017 as per the trade ministry.

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