MCX CPO Fell By More Than 1.8% On Tuesday

MCX CPO fell by more than 1.8% on Tuesday tracking weak International palm oil prices and on reports of higher imports of palm oil during the last two months. Moreover, reduction in base import prices too pressurizes prices.

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.

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