New Delhi 28th July! Vegetable oil prices in the domestic spot markets are likely to trade range –bound with firm bias on Monday following bearish and bullish factors.
Recovery of soy oil at CBOT during the weekend and decrease in oilseeds acreage compared to last year will provide necessary support to the market. On the other hand lack of demand around current levels is weighing on the market.
CPO futures at BMD opened firm and the active Oct ’08 contract is currently trading at MYR 3134/ton, up by 64 ringgit per ton in comparison with previous close....Agriwatch
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