Moneycontrol Be a Pro
Get App
Last Updated : Jun 06, 2019 12:14 PM IST | Source: Moneycontrol.com

Crude Palm oil prices to trade sideways to lower: Angel Commodities

According to Angel Commodities, MCX Jun CPO edged lower for the third consecutive session due to tariff cut on crude palm oil.

Representative image
Representative image

Angel Commodities' report on Crude Palm oil


MCX Jun CPO edged lower for the third consecutive session due to tariff cut on crude palm oil. Moreover, tariff difference between CPO and RBD increased to over 40 dollars. For 1st half of May, tariff value for CPO and RBD Palmolein cut by 8 and 1 dollar to 514 and 555 dollar per ton which is lowest tariff rate in 2019. Currently, CPO prices are about 18-20% down on year due to higher stocks, weak international prices and higher imports.


Outlook


CPO futures expected to trade sideways to lower due to weak international prices. Moreover, lower tariff value and higher import figures bearish sign. Higher edible oil stocks by 20% compared to last year is also pressurizing prices of edible oil.


For all commodities report, click here


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



The Great Diwali Discount!
Unlock 75% more savings this festive season. Get Moneycontrol Pro for a year for Rs 289 only.
Coupon code: DIWALI. Offer valid till 10th November, 2019 .
First Published on Jun 6, 2019 12:14 pm
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant