Commodity Tips:- Today Crude Palm Oil (CPO) News

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MCX Crude Palm Oil (CPO) closed flat on Wednesday tracking higher stock pile in the domestic market coupled with weak Malaysia futures. Government cuts tariff value for CPO by $1 per tn to $675 while increase tariffs for RBD Palmolein by $5 to $695 for the first half of Feb. On anticipation that country will import more as Malaysia lifted export taxes may pressurize prices in the coming weeks.

 

Outlook 

 

CPO futures may trade sideways tracking weak International prices and good physical demand in the domestic market. However, higher stocks and cut in base import prices by the govt. for second half of January may keep prices in a range.

 

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