CPO Dec Futures Prices Closed Lower

CPO Dec Futures prices closed lower yesterday by 1.54% at Rs. 390.0 per 10 kg tracking international market. as it is driven mainly driven by the Malaysian CPO prices. According to latest data released by SEA, country has set a new record for highest import of palm products in Oil year 2014-15, which has created a glut in domestic market. Import of palm products during October 2015 is the highest in any single month at 1.11 mt.

Malaysian palm oil futures fell on falling crude and declines in competing vegetable oils as well as concerns of slowing exports. Exports of Malaysian palm oil products for Dec. 1-15 fell 35.6 percent from a month earlier to 466,876 tonnes as per Intertek Testing Services data. The country’s total crude palm-oil production in November fell 19% from October to 1.65 million metric tons, according to the Malaysia Palm Oil Board (MPOB).

Palm-oil stocks in Malaysia, one of the world's largest producers of the oil, are 28% higher than a year ago. Moreover, on month on month basis, Malaysian Palm-oil stocks totaled 1.75 million tons at the end of November, up 2.6% from October.

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