Crude Palm Oil (CPO) Trading Range For The Day Is 546.2-567.2.

Crude palm Oil on MCX settled up by 0.96% at 559.1 on profit booking after prices gained on the back of bullish sentiment at an industry conference. Palm oil output is expected to see seasonal declines in the first quarter of the year before picking up and heading towards peak production in the third quarter.

 

Indonesia's crude palm oil (CPO) exports in December likely edged lower because of lower demand after an import tax hike started on edible oils in India, Indonesia's biggest CPO importer, while output fell for a second month. Exports of CPO from Indonesia, the world's biggest palm oil producer, fell slightly to 2.51 million tonnes in December from 2.52 million in November.

 

Trading Ideas: 

 

* CPO trading range for the day is 546.2-567.2. 

 

* Crude palm oil ended with losses on profit booking after prices gained on the back of bullish sentiment at an industry conference. 

 

* Palm oil output is expected to see seasonal declines in the first quarter of the year before picking up and heading towards peak production in the third quarter. 

 

* Indonesia's crude palm oil (CPO) exports in December likely edged lower because of lower demand after an import tax hike started on edible oils in India.

 

* Crude palm oil prices in spot market gained by 1.80 rupees and settled at 553.80 rupees.

 

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