Crude Oil Prices to Trade Weak: CrudeOilJackpotCall

 

According to CrudeOilJackpotCall, CPO futures may further right on weak Malaysian palm oil prices. Upper stocks and deferred in introduce duty hike may assist to ease price.

MCX CPO continues to fall this week on Tuesday on reports that palm oil import into the country climb for 9th month on joyful Boost. Moreover, weak prices of edible oil s in International markets too pressurize prices. However, the cost is still supported at 10 month high in the futures market on expectation of hike in import duty for edible oil. But, the government did not take any decision on rising import duty on edible oil for now which slow down the cost surge.

Outlook

CPO futures may further right on weak Malaysian palm oil prices. Upper stocks and delayed in import duty hike may assist to effortlessness prices.
Location: Lajpat Nagar, New Delhi, Delhi, India

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