Crude Palm Oil On MCX Settled Up By 1.17% At 485.1

Crude palm Oil on MCX settled up by 1.17% at 485.1 tracking firmness in spot demand on low level buying after prices dropped ample supplies in the domestic market. Malaysia palm oil exports during July 1-20 jumped 10.5% compared to same period a month ago on strong demand from China and European Union, data showed. Malaysia palm oil exports rose to 796,664 tons during July 1-20 compared to 721,020 tons for the same period a month ago, DowJones reported citing data from Intertek, a private surveyor.

China's palm oil imports from Malaysia during June 1-20 climbed 37.71% to 120,226 tons compared to 87,300 tons a month ago. Palm oil imports by European Union from Malaysia during July 1-20 spurted 58.44% to 225,791 tons compared to 142,508 tons in the same period a month ago. However, Malaysia's palm oil exports to India during July 1-20 28.63% to 136,600 tons compared to 191,400 tons imported during June 1-20.

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