Capital stroke NCDEX Update : CRUDE PALM OIL 22 MAY 2014

CPO Futures traded on a negative note on Wednesday taking cues from weak overseas palm oil markets. However, higher soy oil and a weak Rupee supported prices at lower levels and settled 0.2% lowerExports of Malaysian palm oil products between May 1-20 jumped 18.5% to 856,128 tonnes from 722,170 tonnes shipped between April 1-20. Malaysia has set the export tax for Palm oil for May at 5.5%, unchanged as against 5.5% in April. Malaysia has cut export tax for Palm oil for May to 12% as against 13.5% in April.
India's crude palm oil imports increased 87.24% in March to 438,122 tn from 233,987 tn last year.

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