MUMBAI (Commoditiescontrol) - India crude palm oil futures edged higher, while refined soy oil was flat early Tuesday morning on dismal global cues.
U.S soy oil futures was flat today in the early Asian trade, while Malaysian palm oil futures closed with marginal gains at mid-day break.
Crude palm oil most active February contract on the Multi Commodity Exchange Ltd (MCX) was up 0.12 percent at Rs 571.7/10kg against Rs 571 on previous session. The contract so far has traded in range of Rs 571.5-572.4.
Refined soy oil March contract on the National Commodity & Derivatives Exchange Ltd (NCDEX) was tad down at Rs 684.75/10kg after trading in range of Rs 684-685.8.
According to CC analyst, crude Palm Oil (CPO) February contract trend is down with support seen at Rs 569-563 and resistance is placed at Rs 574-580. Refined soy oil March contract trend is down with support at Rs 682-675 while resistance is placed at Rs 689-697.
(By Commoditiescontrol Bureau; +91-22-40015516)