Crude Palm Oil On MCX Settled Down By -1.54% At 562.3

Crude palm Oil on MCX settled down by -1.54% at 562.3 on higher stockpiles in the domestic market. Palm oil stock in various ports of the country has risen by 30% as on Feb 06 against last week. Palm oil imports fell for the third consecutive month by 11.56 per cent to 608,762 tonnes in January, on account of good domestic oilseeds production and better availability of edible oils, industry body Solvent Extractors Association (SEA) said. India, the world’s leading vegetable oil buyer, had imported 688,393 tonnes palm oil in January 2015. The country’s total vegetable oil imports fell by 19 per cent to 1.24 million tonnes (mt) in January this year from 1.26 mt in the year-ago period.

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