Moneycontrol Be a Pro
Get App
Last Updated : Aug 02, 2018 05:15 PM IST | Source:

Crude Oil prices to trade sideways to higher: Angel Commodities

According to Angel Commodities, MCX CPO closed lower on Friday due to cut in tariff values of all the edible oils.

Angel Commodities' report on Crude Oil

MCX CPO closed lower on Friday due to cut in tariff values of all the edible oils. The base import price of crude palm oil and RBD palmolein was cut by $1 4 each and $17 to $6 44 per tn and $6 73 per tn, respectively. According to SEA monthly update, plam oil import s into the country were down 33% and 46% for CPO and RBD Palomlein in May compared to last year.  India’s palm oil imports dropped in May due to higher taxes on shipments while weaker rupees making import s expensive.

CPO futures may trade sideways to higher due to expectation of good physical demand due to increase in import duty of soft oil. However, weak international prices and higher domestic stocks may pressurize prices at higher levels.

For all commodities report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Are you happy with your current monthly income? Do you know you can double it without working extra hours or asking for a raise? Rahul Shah, one of the India's leading expert on wealth building, has created a strategy which makes it possible... in just a short few years. You can know his secrets in his FREE video series airing between 12th to 17th December. You can reserve your free seat here.
First Published on Jun 18, 2018 12:13 pm
Follow us on
Available On