Commodity Market Tips: Crude Palm Oil (CPO) Trading Range For The Day Is 533.8-542.8

Crude Palm Oil on MCX settled up by 0.26% at 539.5 on short covering after prices dropped tracking weakness in spot demand amid higher supplies in the domestic market. Exports of Malaysian palm oil products for October 1-10 rose 18.1 percent to 448,349 tonnes, up from 379,652 tonnes shipped over September 1-10, cargo surveyor Intertek Testing Services said.

Trading Ideas:

* CPO trading range for the day is 533.8-542.8.

* Crude palm oil gained on short covering after prices amid higher supplies in the domestic market.

* Rising inventory levels in Malaysia, the world's second largest producer of the tropical oil, could further weigh on palm prices.

* Inventory levels at the end of September rose 4 percent from a month earlier to 2.02 million tonnes, data from industry regulator the MPOB showed.

* Crude palm oil prices in spot market gained by 0.10 rupees and settled at 539.20 rupees.

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