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Crude Palm Oil Likely To Trade On A Mixed To Positive Note On Positive,

ByCommodityOnline
Published 05/15/2014, 06:45 AM
Updated 05/14/2017, 06:45 AM

Crude Palm


MUMBAI: Palm oil futures are expected to trade on a mixed to positive note on positive overseas palm oil markets due to higher exports. However, weak domestic edible oils may cap sharp gains. Prices may also take cues from movement in the Rupee.

Palm oil production is under-performing and stocks are tight. A lot of bio diesel business has already been locked in whilst Spreads were workable. Therefore the job of the market until June is to push demand away from palm.

Short term outlook remian firm for CPO as control demand and enable stocks in Malaysia and in Indonesia to be maintained at a workable level. If the weather improves and rains come by next week, it will not alter the price outlook up to June 2014. The job of demand rationing needs to be done. However if rains come as normal and the High Cycle kicks in from July onwards, prices can trade in a range between 570-590 from July until October.

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