EPIC RESEARCH NCDEX CRUDE PALM OIL UPDATE OF 08 MAY 2017

CPO trading range for the day is 485.5-501.5.Crude palm oil prices gained on buying at lower level after prices dropped to over one year low on oversupply woes.Export of palm oil from Malaysia is forecast to increase marginally by 3.1% on year in Oct-Sep 2016-17 to 17.15 mln tnRecently, the government cut the base import prices of Crude palm oil by $22 per tonne and RBD palmolein by $17 per tonne for first half of May.Crude palm oil prices in spot market dropped by 0.40 rupees and settled at 506.20 ru

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