CPO Futures Closed Higher On Thursday

CPO Futures closed higher on Thursday tracking international prices and lower level buying. Reports of good physical demand also supported the prices. CPO Jul’16 expiry closed 0.73% higher to settle at Rs. 523.8 per 10 kg. CPO prices were under pressure in the last fortnight but now trend is higher due to lower level buying and good demand. According to latest data released by SEA, import of RBD Palmolein during the first eight months of the current oil year i.e. from November 2015 to June 2016 doubled and reached at 17.77 lakh tonnes from 9.13 lakh tonnes replacing import of CPO and expected to increase further in the coming months.

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