Crude Palm Oil On MCX Settled Down By -0.02% At 538.5



Crude palm Oil on MCX settled down by -0.02% at 538.5 tracking weakness in spot demand on expectation of good supplies. There is expectation of higher stock levels of edible oil in the country as oilseed crushing is going on in full swing. Moreover, imports of palm oil in Feb higher compared to previous month. Palm oil is trading in a range on good supplies and reducing base import prices by the government. Palm has been range-bound since late-February with market signals mixed, as demand remains weak and output growth is still uncertain. Moreover, shipments from Malaysia, the world's second largest producer after Indonesia, dipped during the March 1-25 period. 

Indonesia's crude palm oil (CPO) output likely dropped in February, extending the decline into a third straight month, a survey showed. CPO production in the world's top producer of the widely used oil likely slipped to 2.80 million tonnes in February from2.95 million tonnes in January, according to the median estimate in a survey of two industry associations and a state palm research firm

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