Crude Palm Oil On MCX Settled Down By -0.43% At 531.3

Crude palm Oil on MCX settled down by -0.43% at 531.3 on rising supply worries from Indonesia and Malaysia and on weak demand. Weather outlook report released by Malaysia Meteorological Department showed increasing odds for El-Nino toward second half of this year, with a 50-55% chance of it developing from about July-Dec. Malaysia palm oil exports during Mar 1-20 fell by around 3% compared to a month earlier on subdued demand from China, data showed. Malaysia palm oil exports fell to 711,286 tons during Mar 1-20 compared to 733,288 tons for the same period a month ago, DowJones reported citing data from Intertek, a private surveyor.

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