CPO settled flat on weak demand for the edible oil in the global and domestic market amid higher supplies of the oil. India crude palm oil imports in December jumped 8.7% on year to 691,740 tons compared to 636,113 tons a year earlier, data release from the Solvent Extractors Association (SEA) of India. As per latest release from Cargo Surveyor Intertek Agri Services, Malaysia's palm oil exports during January stood at 1.28 million metric tonnes, down 11% over the same period in January,2013 . Malaysia Jan 1-20 palm oil exports dropped 15% on month to 748,303 tons, data release by Intertek showed. India crude palm oil imports in December jumped 8.7% on year to 691,740 tons compared to 636,113 tons a year earlier, data release from the Solvent Extractors Association (SEA) of India. India total edible oil imports in 2014-15 to record of 11 million tons on improved demand from the world's top edible oil consumer. Malaysia, the world's No.2 palm oil producer, has kept its crude palm oil export tax for February unchanged at 5 percent, a government circular showed. India crude palm oil imports in December jumped 8.7% on year to 691,740 tons compared to 636,113 tons a year earlier. India increased import duties on refined edible oils, including palm oil, to 10 percent from 7.5 percent to protect local oilseed growers and refiners against cheaper supplies from major exporters. Technically market is under short covering as market has witnessed drop in open interest by -5.3% to settled at 3321 while prices up 0.3 rupee, now CPO is getting support at 531.9 and below same could see a test of 529.8 level, And resistance is now likely to be seen at 535.8, a move above could see prices testing 537.6.

Trading Ideas:

CPO trading range for the day is 529.6-537.4.

CPO settled flat on weak demand for the edible oil in the global and domestic market amid higher supplies of the oil.

India crude palm oil imports in December jumped 8.7% on year to 691,740 tons compared to 636,113 tons a year earlier.

Malaysia's palm oil exports during January stood at 1.28 million metric tonnes, down 11% over the same period in January, 2013.

Crude palm oil prices in spot market gained by 2.80 and settled at 530.70 rupees.