CPO Futures Closed Lower On Tuesday

CPO Futures closed lower on Tuesday tracking international prices and higher domestic supplies. The most active CPO Oct’16 expiry closed lower by 2.04% to settle at Rs. 527.0 per 10 kg.

As per SEA data, Palm oil imports by India fell for a fifth month in September dropped by 5.5% to 564,912 tons in September from a year earlier. While for the current oil year, CPO imports pegged at 5.23 mt in Nov-Sep, compared with 6.85 mt a year ago. However, data showed imports of RBD palmolein increase to 2.40 mt vs 1.43 mt for Nov-Sep period. India's palm oil imports in 2016/17 are likely by rise 9% to 9.24mt from a year earlier, as a growing population and higher income levels drive up edible oil consumption. The tariff value of RBD palmolein decrease 8.2% for the 2nd half of October compared to previous fortnight.

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