Crude Palm Oil On MCX Settled Down By -1.21% At 571

Crude palm Oil on MCX settled down by -1.21% at 571 tracking weakness in spot demand on profit booking. However, sharp fall in the prices will be cushioned by supply worries next week. Malaysia palm oil exports during Feb 1-10 fell 3% compared to a month earlier on weak demand from Middle East, data showed. Malaysia palm oil exports fell to 340,947 tons during Feb 1-10 compared to 351,907 tons for the same period a month ago, DowJones reported citing data from Intertek, a private surveyor. Indonesia Palm and kernel production fell 3% to 34.5 million tons in 2016 from a year earlier, Indonesian Palm Oil Association GAPKI, says in a statement. CPO output dropped by 3% to 31.5 million tons in 2016 on yearly basis, Gapki said.

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