Crude Palm Oil On MCX Settled Up By 1.3% At 528.6

Crude palm Oil on MCX settled up by 1.3% at 528.6 tracking firmness in spot demand amid supply shortage worries from Malaysia. Palm oil output in Malaysia dropped by 1.43% to 1.25 million tons as compared to 1.27 million tons in January, data published by Malaysian Palm Oil Board showed. Closing stockpiles for month of February also dropped 5.32% to 1.45 million tons as compared to 1.54 million in January. Malaysia is still negotiating with Indonesia on standardising the export duty structure for crude palm oil (CPO).

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