Crude Palm Oil On MCX Settled Down By -0.12% At 577.4

Crude palm Oil on MCX settled down by -0.12% at 577.4 on profit booking after gaining due to supply worries from Malaysia and on strong Malaysian palm oil export data. Tightness in Palm oil continued as exports are gaining pace while production is declining in Malaysia and Indonesia. Meanwhile, the Indonesia data continued to show supply tightness for palm oil. Palm stockpiles in Indonesia dropped about 37% to 1.07 million tons in December from a month earlier, the lowest ever, Gapki said. Production in December fell 8.3% to 3.15 million tons from a month earlier, while palm and kernel oil exports dropped 6% to 2.68 million tons.

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