CPO Futures Gain On Wednesday

CPO Futures gain on Wednesday after three days of falls on good opportunity for buying at lower levels in expectation of improved demand. Reports of lower imports of palm oil too support prices. Reduction of the base import prices for palm products might stabilize the domestic prices. For 2nd half of Feb, the prices of CPO and RBD palm oil cut by $8 and $39 a tonnes respectively. Malaysian palm oil futures saw their strongest daily gains in nearly two weeks on Wednesday supported by weak ringgit amid expectations that the Fed is likely to raise the interest rate and good export figures. Palm oil exports edged up 1.4% for Feb 1-15, according to cargo surveyor Intertek Testing Services. 

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