CPO On MCX Settled Up 0.92% At 547.5



CPO on MCX settled up 0.92% at 547.5 on short covering after prices dropped amid expectation of higher output. Recovery in yields in major growing region of Southern peninsular Malaysia also with higher soybean production estimate in South America weighed on the prices. In addition to that, subdued demand also kept oil prices under pressure. Malaysia's Feb 1-20 palm oil exports decline by 0.8% to 733,288 tons compared to same period a month ago, data published by Intertek showed. As per Malaysian custom dept, March'17 Crude Palm oil export duty has been raised to 8% from 7.5% a month ago.

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