EPIC RESEARCH NCDEX UPDATE OF CRUDE PALM OIL 19 October 2016

CPO trading range for the day is 515.9-546.3. Crude palm oil dropped on profit booking after prices gained earlier on expectation of improvement in demand at lower level and supply concerns. Concern over lower production estimation in key growing areas such as Malaysia and Indonesia and fast depletion of stocks also supported. Production growth in the key palm oil producing countries has been slow adding further concern to the tight veg oil supplies. Crude palm oil prices in spot market dropped by 5.90 rupees and settled at 557.80 rupees. To get reliable and quality NCDEX Tips ✆ – 0731-6642300