Crude palm oil contracts on MCX fell today in line with the trend on Bursa Malaysia Derivatives due to expectation of higher production. At 1324 IST, the most-active August contract of palm oil on MCX was at 481.4 rupees per 10 kg today, down 1.1% from previous close. Palm oil output is seen increasing in state of Sabah of Malaysia, the largest producing region, with trees showing recovery from damages last year following El Nino, news website thestar.com reported. Crude palm oil prices also fell tracking CBOT soy oil which came under pressure following forecast of favourable weather.
Source : Newswire
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