EPIC RESEARCH NCDEX CRUDE PALM OIL UPDATE OF 09 MAY 2017

CPO trading range for the day is 487.4-504.8.Crude palm oil prices dropped tracking weakness in spot demand on on profit booking and 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 gained by 2.90 rupees and settled at 509.10 rupees.

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