Monday, 25 March 2019

EPIC RESEARCH NCDEX Crude palm oil UPDATE OF 25 March 2019



CPO trading range for the day is 521.1-529.1.

* Crude palm oil ended with losses tracking weakness in spot demand and overseas prices amid bumper harvest last year in both Malaysia and Indonesia.

* Stockpile concerns were further fanned after the European Union announced plans to phase out use of palm oil in renewable transport fuel by 2030.

* Global palm oil demand may suffer its first contraction in two decades during the 2019/20 crop year due to rising domestic oilseed supplies.


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