Crude Palm Oil (CPO) on MCX settled up 0.17% at 537.2 as prices seen supported due to increase in tariff value for the first half of October. The government increased the base import price of all palm oils, with the steepest hike of $30 per tn for refined, bleached and deodorised palm oil. The base import prices of refined, bleached and deodorised palmolein, and crude palmolein were raised by $28 per tn each. The stock of CPO at various ports is estimated at 3.4 lakh tonnes compared to 2.7 lakh tonnes in previous month. According to SEA release, during November August period, crude palm oil import increased to 50.82 lt from 46.70 lt during the same period of the previous oil year.

Trading Ideas:

* CPO trading range for the day is 534.1-539.9.

* Crude Palm Oil gains as prices seen supported due to increase in tariff value for the first half of October.

* The base import prices of refined, bleached and deodorised palmolein, and crude palmolein were raised by $28 per tn each.

* The stock of CPO at various ports is estimated at 3.4 lakh tonnes compared to 2.7 lakh tonnes in previous month.

* Crude palm oil prices in spot market dropped by 0.40 rupees and settled at 541.50 rupees.

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