Crude Palm Oil On MCX Settled Up By 0.21% At 513.7

Crude palm Oil on MCX settled up by 0.21% at 513.7 tracking cues from Malaysian palm oil market following robust export data. 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. This is up 6.5% from last month, and represents a much faster growth than was expected, with expecting inventories fairly flat month-on-month. Particularly striking is the fact that this growth in stocks came despite brisk exports, which rose by some 14% month-on-month in March, to 1.27m tones, well ahead of analyst expectations, for exports of 1.18m tonnes. And cargo surveyor SGS reported palm oil and product exports in April 1-10 up 25% over the same period last month, at 312,489 tonnes.

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