Crude Palm Oil On MCX Settled Down By -0.54% At 495.6



Crude palm Oil on MCX settled down by -0.54% at 495.6 on profit booking after prices gained due to anticipation of good demand from the stockists. Crude palm oil base import price ups to $739/tonne against $711/tonne while RBD palm oil base import price to $752/tonne against $721/tonne.

Base import prices of edible oils are revised every fortnight, based on global prices and changes in foreign exchange rate. Prices were last revised on May 15. As per SEA, During Nov.’16 – Apr.’17, Import of palm oil decreased to 43 lt from 43.4 lt during the same period last year. The overall stock of edible oil as on 1st May, 2017 has increased by 207,000 tonnes to 21.2 lakh tonnes compared to stocks on 1st Apr., 2017. Malaysian Palm Oil Board of data showed that domestic stocks of the vegetable oil rose by less than expected last month. At 1.60m tonnes, they were up 3.0% month on month, but some 50,000 tonnes short of market forecasts.


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