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CPO trading range for the day is 523.7-541.1
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CPO on MCX settled down -0.6% at 532.4 on subdued demand in export
market. Malaysia palm oil exports during Oct 1-20 dropped 12.40%
compared to a month earlier on subdued demand from China, India and
Middle East, data showed. Malaysia palm oil exports fell to 800,854 tons
during Oct 1-20 compared to 914,264 tons for the same period a month
ago, Dow Jones reported citing data from Intertek, a private surveyor.
India's palm oil imports from Malaysia during Oct 1-20 slipped 9.41% to
237,924 tons compared to 262,650 tons during Sep 1-20. Prices of CPO were also under pressure on hope of higher supply from Indonesia, the world's biggest oil producer, after report published by Bloomberg showed that CPO inventories in Indonesia may rise by 12% on higher output to 1.9 million tons, it's highest since May compared to 1.695 million tons in August.
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