CPO on MCX settled down -0.5% at 554.2 as local demand softened and overseas prices on expected higher output and as traders stayed on the sidelines ahead of forecasts at an industry conference. Palm oil production in Indonesia, the world's biggest grower, will be 38.3 million tonnes in 2018. Predicted Indonesian palm production at 48 million tonnes in 2025 and Malaysian production at 23.1 million tonnes by then.

Trading Ideas:

* CPO trading range for the day is 545.9-561.5.

* Crude palm oil dropped as local demand softened and overseas prices on expected higher output.

* Palm oil production in Malaysia, is expected to increase 15.5 percent this year and will grow by 2.5 percent in 2018, the government said.

* Indonesia's 2017 palm oil production is estimated to reach 36.5 million tonnes, an increase of 4 million tonnes compared with 2016.

* Crude palm oil prices in spot market dropped by 2.00 rupees and settled at 544.70 rupees.

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