CPO Jan Futures Prices Closed Higher

CPO Jan Futures prices closed higher by 2.50 % w-o-w on reports of little less imports of palm oil during December. On Friday, CPO closed higher by 0.64% and settles at Rs. 421.7 per 10 kg taking clues from international markets. Record stocks at Indian ports and in pipeline pressurize 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. Exports too declining on concern over China’s slowing economy. December's palm exports from Malaysia, the world's second-biggest producer of palm oil by volume, fell 5%- 6% compared to the month before.

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