Crude palm Oil on MCX settled up by 0.67% at 482.5 on short covering tracking firmness in spot demand after prices dropped on higher stockpiles in local market and as the government trimmed tariff value on oil. India's Crude palm oil imports climbed by 37.73% in June to 572,388 tons compared to 415,580 tons imported during June 2016. Further, government of India also trimmed CPO tariff value to $693 per tons compared to $697 per tons.

Stocks of edible oil in ports and pipeline are estimated at 2.278 million tons as on July 1 compared to 2.320 million tons a year ago and 2.160 million tons in May, data showed. India's monthly requirement is about 1.750 million tons and operates at 30 days stock against which currently holding stock over 2.278 million tons equal to 39 days requirements.

Trading Ideas:

* CPO trading range for the day is 477.7-486.1.

* Crude palm oil ended with gains on short covering tracking firmness in spot demand.

* India's Crude palm oil imports climbed by 37.73% in June to 572,388 tons compared to 415,580 tons imported during June 2016.

* Further, government of India also trimmed CPO tariff value to $693 per tons compared to $697 per tons.

* Crude palm oil prices in spot market gained by 3.80 rupees and settled at 485.20 rupees.

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