Crude Palm Oil prices to trade sideways to positive: Angel Commodities

Angel Commodities' report on Crude Palm oil

MCX CPO continues to trade lower this week and closed lower for fifth successive session due tracking weak palm oil in Malaysia and lower tariff value for July. However, prices have been in a range due to weaker rupees and steady domestic demand.� The government has slashed the base import price of CPO and RBD Palmolein by $26 to $618 per ton and $27 to $646 per ton respectively.

Outlook
CPO futures may trade sideways to positive on bargain buying and improved prices in international prices. However higher domestic stocks and steady domestic demand from the stockists may keep the prices sideways.

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. Read More First Published on Jul 5, 2018 11:39 am