Thursday, 1 December 2016

EPIC RESEARCH NCDEX CRUDE PALM OIL UPDATE OF 1 DECEMBER 2016

CPO Futures closed higher on Wednesday tracking international prices. The most active CPO Nov’16 expiry closed 0.16% higher to settle at Rs. 554.4 per 10 kg. In domestic market, the prices are following the international market as country is depending on the imports. Meanwhile, the tariff value of CPO increase by $25 to $764 per tonne for the 1st half of Dec compared to previous fortnight. This is third straight increase but still lower than the September tariff price. As per USDA report, ending stocks of palm oil in India in 2016/17 will dropped 30% to 381,000 tonnes compared to previous month estimates. Palm oil shipments from Malaysia, the world's No.2 producer of the tropical oil, fell 10-12 percent for the full month of November from the previous month, according to data from cargo surveyors on Wednesday. Palm output from Indonesia and Malaysia are expected to fall by 10-15% and 9.8%, respectively, this year.

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