Crude Palm Oil On MCX Settled Up By 1.01% At 648.3



Crude palm Oil on MCX settled up by 1.01% at 648.3 tracking firmness in spot demand amid reports of lower stockpiles. Palm oil inventories in Malaysia, the world's second-largest producer, probably fell for a fourth month in April to a six-month low. Stockpiles expected to fall 3.4% from March to 2.13-2.24 million tons.

Malaysia palm oil exports during Apr 1-30 dropped 4.5% compared to same period a month ago on weak demand from the US, Japan, India, Egypt and South Africa, data showed. Malaysia palm oil exports during Apr 1-30 dropped to 1.33 million tons compared to 1.39 million tons for the same period a month ago, DowJones reported citing data from SGS, a private surveyor.

India's palm oil import from Malaysia during Apr 1-30 slipped 38.67% to 253,155 tons compared to 412,783 tons in the same period a month ago, data showed. Another data reported by DowJones citing AmSpec showed Malaysia's palm oil exports during the April 1-30 fell by 5.7% on month at 1.31 million tons compared to 1.39 million tons a month ago.

Palm oil inventories in Malaysia, the world's second-largest producer, are forecast to slide to their lowest in six months, as exports and domestic consumption outpaced production. Malaysia's palm oil stockpiles at the end of April are forecast to fall 4.1 percent from March to 2.23 million tonnes, a fourth straight month of declines, according to the median of nine estimates from planters.

For Quick Trial – 8962000225 ✔ 
or mail us here: info@ways2capital.com
✆ - 0731-6626191  | Toll Free - 1800-3010-2007Give a Missed Call for Free Trial - 09699997717
NewerStories OlderStories Home

0 comments: