Crude Palm Oil Trading Range For The Day Is 516.9-539.7

by - 12:45 pm

Crude palm Oil on MCX settled up by 0.65% at 528.5 tracking firmness in spot demand and overseas prices. Recently government raised import duty on crude palm oil to 15% from 7.5%, and on refined palm oil to 25% from 15% but higher stocks in the country is having bearish impact. 

Trading Ideas:

* CPO trading range for the day is 516.9-539.7.

* Crude palm oil ended with gains tracking firmness in spot demand and overseas prices.

* According to cargo surveyor SGS, Malaysia’s August palm oil exports fell 0.1 percent to 1,259,240 from 1,260,143 tons last month.

* Recently government raised import duty on crude palm oil to 15% from 7.5%, and on refined palm oil to 25% from 15%.

* Crude palm oil prices in spot market gained by 1.60 rupees and settled at 532.50 rupees.

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1 comments

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