Crude palm oil rises to fresh high in domestic market; bulls unlikely to take a breather anytime soon
Looking at the supply side, both largest palm oil producing countries (Indonesia and Malaysia) have registered a surprised decline in stocks for last month, which has fuelled the rally in BMD CPO
Intraday on December 3, MCX crude palm oil (CPO) touched a fresh peak of Rs 685 per 10 kg. Being the largest palm oil importing nation, India derives its palm oil price value from its foreign counterpart, Bursa Malaysia Derivative (BMD).
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