India meets 70 per cent of edible oil demand in the country through imports. Malaysia's CPO exports to India reached 327,627 mt in March from 177,541 mt in February.
The big palm oil refiners in India has recently found themselves in trouble as imported crude and refined palm oils from Malaysia and Indonesia are available at the same price in India.
MCX Crude Palm Oil is trading at 555.3 with 4.6 percent loss. SELL @560, Target = 556.5.
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