CPO Jumped Higher For The Second Consecutive Day

MCX CPO jumped higher for the second consecutive day on Thursday supported good physical demand. However, cut in base import prices for the 1st half of May kept prices lower in first week. The base import price of crude palm oil was slashed to $671 per tn from $684 per tn. CPO has been trading all-time high in April due to jump in oilseed prices in the country following news on removing export restrictions on edible oils from the country.

As per SEA latest report, India's crude Palm oil (CPO) imports in March increased by 30.33% compared to same period a year ago despite the govt. imposed higher duty. However, Shipment of RBD palmolein dropped 25.56% to 163,222 tons compared to 219,270 tons last year.

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