Loading…
Crude palm oil futures in India were flat at Rs 1,141 per 10 kg after five straight days of losses, as traders added short positions. The government cut crude palm oil import duty to 10% from 27.5% the previous week to curb high edible oil prices.
Malaysian palm oil futures rose 4.34% to 4,060 ringgit.
Weak Indian and Chinese demand, along with softer exports from Malaysia and Indonesia, points to continued pressure on palm oil prices despite the duty cut. Buyers should expect the bearish trend to persist in the near term.
moneycontrol.comSandeep SinhaJun 2, 2021Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
