Tuesday, 29 August 2017

EPIC RESEARCH NCDEX CRUDE PALM OIL UPDATE OF 29 AUGUST 2017

CPO trading range for the day is 510.1-521.5.Crude palm oil ended with losses tracking weakness in spot demand and overseas prices on higher output from Malaysia.However downside seen limited amid supply concerns as higher import duty indicating tight supply situation in near term.US government hiked duties of up to 68.28% on palm oil bio-diesel imports from Indonesia, this will increases stockpiles in Indonesia.Crude palm oil prices in spot market gained by 3.50 rupees and settled at 524.90 rupees.

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