EPIC RESEARCH NCDEX CRUDE PALM OIL UPDATE OF 07 JULY 2017

CPO trading range for the day is 482.2-490.2. Crude palm oil ended with gains tracking firmness in spot demand and overseas prices on the back of forecasts for lower production in June. Production in Malaysia, rose to 1.65 mt in May, up 6.9% from the previous month, according to the latest data MPOB. Palm oil shipments from Malaysia fell 8.9% for the full month of June from the previous month, according to data from cargo surveyor. Crude palm oil prices in spot market gained by 0.20 rupees and settled at 496.50 rupees.

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