CPO on MCX settled up 1.09% at 500.3 tracking firmness in spot demand and overseas prices. However some upside seen limited due to cut in the base import prices of refined, bleached and deodorised palm oil, refined, bleached and deodorised palmolein and crude palmolein by $12 per tonne each for first half of August. Imports of palm oil increase by 35% on year to 8.2 lakh tonnes compared to 6.1 lt last year. During the first 8 months of current oil year, the imports are higher by 5.7% to 59.21 lt compared to 56 lt last year same period.

Trading Ideas:

* CPO trading range for the day is 483.1-512.1.

* Crude palm oil ended with gains tracking firmness in spot demand and overseas prices.

* Malaysia palm oil exports during Aug 1-10 dropped 1.4% compared to same period a month on subdued demand from European Union, and India & Subcontinents.

* Palm oil imports by European Union from Malaysia during Aug 1-10 slipped 1.41% to 96,655 tons compared to 137,465 tons in the same period a month ago.

* Crude palm oil prices in spot market gained by 1.10 rupees and settled at 480.90 rupees.

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