CPO Futures Closed Higher On Wednesday

CPO Futures closed higher on Wednesday on reports of hike in tariff prices / base import prices by the government. The base import prices of crude palm oil and RBD palmolein were increased by $24 a tonne each. Tariff prices are revised every fortnight, based on their movement in the international market and changes in the foreign exchange rate. The prices were last revised on Jan 13. Malaysian palm oil futures market was closed on Wednesday. On Tuesday it hit their lowest in five weeks, on reports of higher production expectation in January and higher export taxes in Malaysia and Indonesia.

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