For 5pm and 6pm, the stop and reverse sell trade signal based on the hourly key indicator will be estimated at 2410 or lower. It is still holding on the long 2403 after 4pm trade.
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India's palm oil imports rose 22 percent to 654,255 tonnes in May from a month ago, a trade body said on Monday, as buyers stocked up ahead of the Muslim holy month of Ramadan when demand for the tropical oil typically peaks...
India's total vegetable oil imports rose 24 percent from a month ago to 1.03 million tonnes in May, data from the Solvent Extractors' Association of India (SEA) showed. "Refiners purchased more to build up stocks," said B.V. Mehta, executive director of SEA. Imports of soyoil rose 54 percent to 174,209 tonnes from a month ago, while sunflower oil imports rose to 5 percent to 178,753 tonnes...
Last month, the price for imported crude palm oil (CPO) averaged $876 a tonne against $934 for soyoil and $942 for sunflower, the trade body data showed. In April, CPO was quoted at $907, soyoil $974 and sunflower oil $946.
May's total palm oil imports included refined oil of 100,605 tonnes, up 24 percent from April as the import price in May was cheaper by $31 per tonne at $866. Half of India's annual demand of 17-18 million tonnes of cooking oil is met through palm oil imports, while it buys about 1 million tonne each of crude soy and sunflower oil.
Source: Reuters India (Reporting by Ratnajyoti Dutta; Editing by Himani Sarkar)