Crude palm Oil On MCX Settled Down By -0.48% At 514.3

Crude palm Oil on MCX settled down by -0.48% at 514.3 tracking weakness in spot demand and overseas prices due to oversupply woes. Latest data published by Malaysian Palm Oil Board (MPOB) showed higher CPO output and stockpiles during March month. During March the world's second biggest palm oil grower produced 1.46 million tons of palm oil up by 16.33% as compared to 1.25 million tons a month ago. Malaysia's CPO stockpiles during March also jumped by 6.5% to 1.55 million tons as compared to 1.45 million tons a month ago. 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.

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