MCX Crude palm oil Updates and Tips

MCX CPO closed higher for the 5 th consecutive day on Wednesday tracking firm International prices. The prices were also supported due to increase in tariff value for Crude palm oil and higher demand for coming festival season coupled with higher import duty also supports prices.

Recently Government raised import duty on crude palm oil to 15% from 7.5%, and on refined palm oil to 25% from 15% but higher stocks in the country is having bearish impact.

@ Buy MCX CPO for today Trading September above 548 target 551, 554 Stop Loss 544.

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