Crude palm oil prices gained amid good domestic demand by the stockists on report of lower production and lower inventories in Malaysia and Indonesia.
Malaysia has raised its tax on crude palm oil (CPO) exports to five per cent for April, ending an 11-month span of CPO being shipped out tax-free.
Malaysia palm oil exports surged to 451,499 tons during Mar 1-15 compared to
408,406 tons for the same period a month ago.
Crude palm oil prices in spot market gained by 2.30 rupees and settled at
511.60 rupees.
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