CPO on MCX settled up 0.11% at 563.1 amid robust demand following improved Malaysian palm oil export data. Malaysia Palm Oil Board data showed that palm oil production was up 3.5% in July from a year earlier to 1.59 million tons. Malaysia palm oil exports during Aug 1-25 climbed 31.09% compared to a month earlier on improved demand from China, European Union and India and Subcontinent, data showed. Malaysia palm oil exports rose to 1.31 million tons during Aug 1-25 compared to 1.004 million tons for the same period a month ago, Dow Jones reported citing data from Intertek, a private surveyor. India's monthly palm oil imports fell to 570,051 tonnes in July, the lowest since February 2015. And soyoil imports have jumped as palm purchases have faded. The country has so far in 2015/16 imported a record 3.1 million tonnes soyoil and total purchases in the year to October are set to rise to 4.25 million tonnes, up 42 percent from last year's 3 million tonnes. The share of palm oil in India's growing edible oil imports is likely to plunge to a record low this marketing year as a rally in prices slashes its discount over rival soyoil. That shift in the world's top palm oil importer could drag on benchmark prices for palm oil that have surged around a third in the last 12 months, while bolstering markets for soyoil. Technically market is under short covering as market has witnessed drop in open interest by -3.54% to settled at 1825 while prices up 0.6 rupee, now CPO is getting support at 559.9 and below same could see a test of 556.7 level, And resistance is now likely to be seen at 565.6, a move above could see prices testing 568.1.

Trading Ideas:

CPO trading range for the day is 556.7-568.1.

Crude palm oil ended with gains amid robust demand following improved Malaysian palm oil export data.

Malaysia Palm Oil Board data showed that palm oil production was up 3.5% in July from a year earlier to 1.59 million tons.

Malaysia palm oil exports rose to 1.31 million tons during Aug 1-25 compared to 1.004 million tons for the same period a month ago.

Crude palm oil prices in spot market dropped by 3.70 rupees and settled at 564.50 rupees.