Crude Palm Oil On MCX Settled Down By -0.3% At 497.8

Crude palm Oil on MCX settled down by -0.3% at 497.8 on profit booking after prices gained on expectation of improvement in demand for Ramadan festival. Malaysia palm oil exports during Apr 1-30 jumped 5% as compared to same period a month ago on improved demand from China, and Middle East, data showed. Malaysia palm oil exports jumped to 1.25 million tons during Apr 1-30 compared to 1.07 million tons for the same period a month ago, DowJones reported citing data from Intertek, a private surveyor. Palm oil prices have been continuing its range bound trend in recent weeks. Recently, the government cut the base import prices of Crude palm oil by $22 per tonne and RBD palmolein by $17 per tonne for first half of May.

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