Crude Palm Oil on MCX settled up by 0.27% at 548.6 tracking firmness in spot demand and overseas prices. The prices were also supported due to increase in tariff value for Crude palm oil and higher demand for coming festival season coupled with higher import duty also supports prices. Recently government raised import duty on crude palm oil to 15% from 7.5%, and on refined palm oil to 25% from 15% but higher stocks in the country is having bearish impact.

Trading Ideas:

* CPO trading range for the day is 543.3-554.1.

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

* The Malaysian Palm Oil Board sector regulator of data showed that the country's palm oil stocks came in at 1.94 m tonnes last month.

* Production last month fell 0.9% to 1.83 m tonnes – a small fall, but an unusual one given that output is on its way to a seasonal peak in September-October.

* Crude palm oil prices in spot market gained by 6.10 rupees and settled at 554.00 rupees.

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