Friday, February 3, 2017

CPO trading range for the day is 573-584.2. Crude palm oil prices dropped on profit booking after gaining due to supply worries from Malaysia and on strong Malaysian palm oil export data. Tightness in Palm oil continued as exports are gaining pace while production is declining in Malaysia and Indonesia. Palm stockpiles in Indonesia dropped about 37% to 1.07 million tons in December from a month earlier, the lowest ever, Gapki said. Crude palm oil prices in spot market gained by 2.60 rupees and settled at 587.50 rupees. 

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