Crude Palm Oil Dropped On Profit Booking



Crude palm oil dropped on profit booking after prices gained on hope of higher demand for upcoming festival of Ramzan. Malaysia palm oil exports during Apr 1-10 jumped 21% as compared to same period a month ago on robust demand from European Union and Middles East while output for March month also jumped by 16%, data showed. Malaysia palm oil exports jumped to 307,249 tons during Apr 1-10 compared to 254,141 tons for the same period a month ago, DowJones reported citing data from Intertek, a private surveyor. As per SEA of India's data India's crude palm oil imports rose 5.91% to 454,213 tons as compared to 428,856 million tons imported during March 2015. Stocks of crude palm oil in Malaysia, the world's second-largest producer, rose to some 1.55m tonnes, data from the Malaysian Palm Oil Board (MPOB), showed.


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