Crude Palm Oil On MCX Settled Down By -0.04% At 483.8



Crude palm Oil on MCX settled down by -0.04% at 483.8 tracking weakness in spot demand and higher imports of palm oil in the last two months. As per SEA latest release, the imports of palm oil have been higher by 12 lakh tonnes to 72 lt in the calendar year 2017 compared to last year’s 60 lt during the first 5 months. As per SEA, palm oil import raised 21.6% y-o-y to 7.99 lt in May on higher shipment of crude palm oil (CPO).

There are good stocks in the country due to higher imports during last two month. For the second fortnight of May, Base import prices of crude palm oil were cut by $15 to $716 per tonne while for RBD Palmolein the cut was about $14 to $747 per tonne. Palm is down nearly 6 percent in the second quarter of the year from the previous quarter, as an increase in output has put pressure on prices.

For Quick Trial – 8962000225 ✔ 
or mail us here: info@ways2capital.com
✆ - 0731-6554125 | Toll Free - 1800-3010-2007
Give a Missed Call for Free Trial - 09699997717
NewerStories OlderStories Home

0 comments: