EPIC RESEARCH NCDEX CRUDE PALM OIL UPDATE OF 8 JULY 2016

CPO trading range for the day is 498.3-506.9. Crude palm oil dropped taking cues from international market on oversupply woes by making oil cheap in export market. Oil prices were also under pressure as investors expect Malaysia to report 1.51 million tons production in June, up for a fourth straight month. Malaysia palm oil exports dropped to 1.13 million tons during June 1-30 compared to 1.23 million tons for the same period a month ago. Crude palm oil prices in spot market dropped by 0.60 rupees and settled at 504.30 rupees.

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