Crude Palm Oil On MCX Settled Down By -0.47% At 544.9

Crude palm Oil on MCX settled down by -0.47% at 544.9 taking cues from Bursa Malaysia Derivative CPO prices amid lower export demand. Prices of the oil were down on subdued demand following weak Malaysian palm oil export data. Malaysia palm oil exports during Feb 1-20 fell by around 2% compared to a month earlier on subdued demand from China, European Union and Middle East, data showed. Malaysia palm oil exports fell to 907,078 tons during Feb 1-25 compared to 924,282 tons for the same period a month ago, DowJones reported citing data from Intertek, a private surveyor. Domestic palm oil prices were also under pressure on strong Indian rupee against the dollar which boosted prospects of higher imports, indicating higher supply situation.

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