CPO Futures Closed Higher On Monday

CPO Futures closed higher on Monday on expectation of good physical demand in the domestic market. Moreover, increase in Tariff Value of RBD Palm Oil by the government to 736$/mt from 703$. The most active CPO Aug’16 expiry closed 0.66% lower to settle at Rs. 568.1 per 10 kg. However, Palm oil imports by India fell for a third month in July as some buyers switched to soybean oil. As per SEA circular, imports dropped 40% to 570,051 metric tons in July from a year earlier. Total vegetable oil purchases fell 25 percent to 1.13 million tons, while soybean oil imports rose 1.4 %, the survey showed.

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