Crude Palm Oil Ended Flat

Crude palm oil ended flat as prices pared gains on profit booking after earlier some support seen driven by a firm demand at the spot market. Besides, tight stocks position on restricted supplies from producing regions and firming trend in overseas markets also added support to crude palm oil prices uptrend. Exports of Malaysian palm oil products for June fell 8.9 percent to 1,190,583 tonnes from 1,306,374 tonnes shipped during May, cargo surveyor Intertek Testing Services said.

For the second fortnight of May, base import prices of crude palm oil were cut by $15 to $716 per tonne while for RBD Palmolein the cut was about $14 to $747 per tonne. Malaysia palm oil exports during June 1-10 jumped 6% as compared to same period a month ago on robust demand from China India & Subcontinents and Middle East, data showed.

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