10/08/2018 12:16:00 PM
- CPO trading range for the day is 586.8-600.6.
- Crude palm oil gained on short covering after prices remained under pressure tracking overseas prices amid rising production.
- Palm oil production in Malaysia, typically rises in the third and fourth quarters of the year in line with the seasonal trend.
- Indonesian palm oil production is expected to hit 40 million tonnes in 2018, up from an earlier forecast of 38.5 million tonnes.
- Crude palm oil prices in spot market gained by 4.20 rupees and settled at 592.00 rupees.
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