CPO On MCX Settled Down -1.41% At 502.7



CPO on MCX settled down -1.41% at 502.7 amid weak edible oil prices in the domestic market. There is report of higher edible oil stocks in the domestic market. Increase in tariff value support prices in the country during the last week.

The government increases the base import prices of Crude palm oil by $9/tonne and RBD by $6/tonne for 2nd half of May. As per SEA, During Nov.’16 – Apr.’17, Import of palm oil decreased to 43 lt from 43.4 lt during the same period of last year.

The overall stock of edible oil as on 1st May, 2017 has increased by 207,000 tonnes to 212 lakh tonnes compared to stocks on 1st Apr., 2017. According to China’s General Administration of Customs (CNGOIC), China’s April palm oil imports rose 54.6 percent to 4.24 lakh tons compared to April 2016.


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