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Last Updated : Aug 02, 2018 04:15 PM IST | Source:

Crude Oil prices to trade higher: Angel Commodities

According to Angel Commodities, expect CPO futures may trade sideways to higher tracking improved physical demand in the domestic market from the stockists

Broker Research @moneycontrolcom

Angel Commodities' report on Crude Oil

MCX CPO closed higher tracking firm soy oil and weak rupees. Moreover, improved demand from the traders, increase in base  import prices and firm  Malaysia  futures also support prices .The government  has  raised base import prices  for CPO by D6 per tn to D681 while  increase tariffs for RBD Palmolein by 35 to D 6 98 for the  second half of  Feb .  India's CPO imports rose 63% on year  to 6.72 lakh tonnes in January.



We expect Ref Soy oil to trade sideways to higher tracking on expectation that government is thinking of increase in import duty of edible oil to support domestic oilseeds prices. Higher stocks with the traders may keep the prices stable.

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First Published on Feb 20, 2018 01:20 pm
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