Crude Palm Oil Settled Flat



Crude palm Oil settled flat tracking weakness in spot demand and on expectation of higher supply. Prices of the oil will be down on expectation of higher supply from Malaysia and Indonesia, the world's top palm oil producer. However, sharp fall in the prices will be cushion by higher demand from export market. Indonesia's crude palm oil (CPO) output likely fell slightly in December, ending a seven-month run of gains. CPO production in the South-East Asian nation likely eased to 3.22 million tons in December from 3.31 million tons in November, according to the median estimate in a survey.

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