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BMD CPO close: Malaysian Palm oil futures slip demand plunge on higher prices

13 Jan 2021 4:32 pm
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Mumbai (Commodities Control) – The Benchmark BMD CPO futures have closed 6 RM lower at 3689 RM/MT.


Malaysian palm oil futures fell on Wednesday, on weak January exports so far. On top of it Malaysia govt announced export duty on palm oil exports for Feb 21 to 8%.


Exports of Malaysian palm oil products for Jan. 1-10 fell 29.7% to 278,450 tonnes from the same period in December, cargo surveyor Societe Generale de Surveillance said.


BMD CPO 3M futures are likely to stabilise towards 3700/3800 RM/MT in coming sessions.


MCX CPO 1M futures to trade towards 970/990 Rs/10 kg.

(Commodities Control Bureau) 


       
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