CPO Futures Closed Lower On Tuesday

CPO Futures closed lower on Tuesday by tracking international markets. The most active CPO Nov’16 expiry closed 0.45% down to settle at Rs. 553.5 per 10 kg. In domestic market, the prices are following the international market as country is depending on the imports. Meanwhile, the tariff value of CPO increase by 2.2% to $739 per tonne for the 2nd half of Nov compared to previous fortnight. This is second straight increase but still lower than the September tariff price. As per USDA report, ending stocks of palm oil in India in 2016/17 will dropped 30% to 381,000 tonnes compared to previous month estimates.

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