CPO closed lower on Thursday due to long liquidation

CPO closed lower on Thursday due to long liquidation at higher levels. The prices have been supported at higher levels due to increase in tariff value for the first half of October. The government increased the base import price of all palm oils, with the steepest hike of $30 per tn for refined, bleached and deodorized palm oil.

The base import prices of refined, bleached and deodorized palmolein, and crude palmolein were raised by $28 per tn each.

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