NCDEX February refined soy oil futures traded higher on 3rd consecutive trading sessions on account of improved domestic demand of edible oil. BMD CPO futures were remained closed on account of Birthday of Prophet Mohammad and today closed on account of Thaipusam Day.
Malaysia, the world's No. 2 palm oil producer has set its duty-free export quota for crude palm oil at 3.6 million metric tons for the year ahead after several weeks of delay.
Malaysia's issuance of the duty-free export quota could boost palm oil exports from the country in February as exporters rush to fulfil export contracts and slow a build-up in end-month palm oil stocks. Imported CPO price were quoted higher at Rs 51,700/tonnes on Monday as compared to Rs 51,200/tonnes on Friday.
Courtesy:Angel Commodities
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