Crude palm Oil on MCX settled up by 1.36% at 558.1 tracking firmness in spot demand amid expectation over further import duty hike by the government. Hope of higher output in Indonesia and easing supply worries in Malaysia limited the upside. The World Vegetable Oil supply will grow by one million tons more than demand growth but most of increment supply will happen after June, so March-June Malaysia Palm Oil stocks will be tightest, boosting prices higher.

Trading Ideas:

* CPO trading range for the day is 548.8-563.6.

* Crude palm oil gains tracking firmness in spot demand amid expectation over further import duty hike by the government.

* Hope of higher output in Indonesia and easing supply worries in Malaysia limited the upside.

* The World Vegetable Oil supply will grow by one million tons more than demand growth but most of increment supply will happen after June.

* Crude palm oil prices in spot market gained by 0.80 rupees and settled at 544.00 rupees.

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