CPO Futures Closed Higher

CPO Futures closed higher on chart based trading by market participants. The trend is positive on firm international prices and steep increase of Tariff Value of RBD Palm Oil by the government to 689$/mt from 657$. The most active CPO Sep’16 expiry closed 0.68% higher to settle at Rs. 530.2 per 10 kg. 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 lt from 9.13 lt replacing import of CPO and expected to increase further in the coming months.

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