Crude Palm Oil On MCX Settled Up By 1.45% At 578.8

Crude palm Oil on MCX settled up by 1.45% at 578.8 on the back of pickup in demand at the spot market. However the stocks in the domestic market are sufficient and the demand from the stockists has improved. Indonesia would set its crude palm oil (CPO) export tax at US$3 per tonne in January, after keeping the tax at zero for two months. 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.

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