Crude palm Oil on MCX settled down by -0.04% at 525



Crude palm Oil on MCX settled down by -0.04% at 525 amid fall in demand at the spot market. Moreover, sufficient stocks position following increased supplies from the producing belts too fuelled the downtrend. Palm oil import rose 2.25 per cent to 7,52,632 tonnes in April on higher shipment of crude palm oil (CPO), industry body Solvent Extractors Association (SEA) said. India, the world's leading vegetable oil buyer, had imported 7,36,036 tonnes palm oil in April 2016.

The country's total vegetable oil import grew by 7 per cent to 13,39,489 tonnes in April this year, from 12,48,887 tonnes in the year-ago period. Palm oils comprise 62 per cent of the total vegetable oil import. However, import of vegetable oils in the first six months of the ongoing 2016-17 oil year ending October has dropped to 43,02,135 tonnes, from 43,40,890 tonnes in the year ago.

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