Crude palm oil traded higher driven by pick-up in demand at the spot market.
According to cargo surveyor Societe Generale de Surveillance (SGS), Malaysia’s February 1-20 exports fell 12.6 percent to 582,297 tons from 666,288 tons.
Exports fell due to weak demand from top palm importers China and India, and as the two countries switch to soybean to crush for domestic consumption.
Crude palm oil prices in spot market gained by 1.90 rupees and settled at 480.20 rupees.
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