CPO Futures Closed Higher On Wednesday



CPO Futures closed higher on Wednesday as tracking firm international market. The trend looks positive as there was increase in Tariff Value of RBD Palm Oil by the government to 736$/mt from 703$. The most active CPO Aug’16 expiry closed 2.68% higher to settle at Rs. 571.9 per 10 kg. However, Palm oil imports by India probably fell for a third month in July as some buyers switched to soybean oil. According to Bloomberg survey, imports dropped 40 percent to 585,000 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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