The contract marked its third session of losses on Thursday
The hike in import duty on palm oil could prompt buyers to increase purchases of rival edible oils such as soya oil and sunflower oil, traders said
A notification in this regard has been issued by the finance ministry. The duty cut has been made under the ASEAN agreement and the India-Malaysia Comprehensive Economic Cooperation Agreement, it said
Threat of poor weather conditions looms. Cold wave and pest attack could damage standing Rabi crops and elevate prices across the board in 2020
Floods in key producing regions resulted in major damage to standing kharif soybean crop
This is due to a forecast of decline in production and expectation of a revival in biodiesel demand in Indonesia, one of the largest producers
Data released by a state millers association earlier this week showed slower output growth for the first 20 days of August compared with a month earlier
Market analysts said offloading of positions by traders influenced crude palm oil prices at futures trade
At the MCX, crude palm oil for delivery this month edged up by Rs 1.30, or 0.25% to Rs 518.40 per 10 kg
Oil for delivery in August gained Re one, or 0.20%
Oil for delivery in August traded lower by Rs 1.60 or 0.33%
Offloading of positions by participants owing to slackened demand in the spot market influenced the commodity prices
Oil for delivery in July contracts traded higher by Rs 1.20, or 0.24%
Oil for delivery in far-month July contracts edged up by 40 paise, or 0.08%
Oil for delivery in June contracts edged up by 40 paise or 0.08%
Oil for delivery in June contracts traded higher by Rs 4.50 or 0.89%
Oil for delivery in June traded lower by Rs 1.90 or 0.36%
Analysts said offloading of positions by participants is due to sluggish demand in the spot markets
Oil for delivery in April traded lower by Rs 2.40, or 0.42%
Oil for delivery in April weakened by Rs 1.80, or 0.31%