3/12/2018 12:04:00 PM
- CPO trading range for the day is 634.8-645.2.
- Crude palm oil dropped tracking weakness in spot demand as Indian importers cancelling shipments after an increase to import duty last week.
- Indian importers are seeking to cancel up to 100,000 tonnes of crude palm oil cargoes after costs were boosted by the higher duty.
- Malaysia’s February production is seen declining by 12 percent to 1.4 million tonnes, with stocks seen down 6.9 percent at 2.37 million tonnes.
- Crude palm oil prices in spot market dropped by 1.20 rupees and settled at 641.60 rupees.
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