Wednesday, February 1, 2017

CPO trading range for the day is 563.5-582.9. Crude palm oil prices ended with gains tracking firmness in spot demand despite of expectation of higher supply. Malaysia palm oil exports during Jan 1-25 rose 9% compared to a month earlier on strong demand from Middle East. Palm oil production in Indonesia is seen rising to 32-33 million tons in 2017 from 28.5-30 million tons in 2016 as per GAPKI. Crude palm oil prices in spot market dropped by 1.70 rupees and settled at 585.20 rupees.

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