Crude Palm Oil yesterday traded with the negative node and settled -4.01% down at 424.2 tracking weak global cues along with subdued spot demand. Malaysia's crude palm oil production is expected to rise 2.5 percent in 2013 as more acreage matures and yields improve, the government said in its annual economic report, which was released. As per Cargo surveyor Intertek Agri Services , Malaysia September palm oil exports plunged by 0.7% from August, to 1.44 million metric tonnes. As per latest release from Trade Ministry of Indonesia, the export duties of Crude Palm oil (CPO ) will remained unchanged at 13.5% in October 2012. While the export tax on RBD Oln will maintained at 6% in October 2012. Malaysian palm oil product exports during September fell 0.7 percent to 1,443,836 tonnes from 1,453,544 tonnes in August, cargo surveyor Intertek Testing Services said. In yesterday's trading session Crude Palm oil has touched the low of 424.2 after opening at 440, and finally settled at 424.2. For today's session market is looking to take support at 418.9, a break below could see a test of 413.7 and where as resistance is now likely to be seen at 434.7, a move above could see prices testing 445.3.

Trading Ideas:

CPO trading range for the day is 413.67-445.27.

Crude Palm oil yesterday traded with the negative node tracking weak global cues along with subdued spot demand.

Malaysia's crude palm oil production is expected to rise 2.5 percent in 2013 as more acreage matures and yields improve

Malaysia September palm oil exports plunged by 0.7% from August, to 1.44 million metric tonnes.

Crude palm oil prices in spot market dropped by 24.70 rupees and settled at 421.30 rupees.