Crude Palm oil yesterday traded settled flat on selling by speculators amid adequate stocks. Palm oil prices have been see-sawing in September, torn between the bleak global economic outlook and prospects of strong demand ahead of key public holidays in top buyers India and China next month. Malaysia's Sept. 1-20 palm oil exports fell 16.4 percent to 978,087 tonnes from 1,170,226 tonnes shipped during Aug. 1-20. The officials of Indonesia's trade Ministry has set the Indonesia's crude palm oil export tax for October at 16.5%, compared with existing tax rate of 15%. In yesterday's trading session Crude Palm oil has touched the low of 500 after opening at 501.1, and finally settled at 503.1. For today's session market is looking to take support at 500.7, a break below could see a test of 498.4 and where as resistance is now likely to be seen at 504.7, a move above could see prices testing 506.4.

Trading Ideas:

Crude Palm Oil trading range is 498.4-506.4.

Crude Palm oil yesterday traded settled flat on selling by speculators amid adequate stocks

Officials of Indonesia's trade Ministry has set Indonesia's palm oil export tax for October at 16.5%

Crude palm oil looks to test support at 500.70 and resistance is seen at 504.70.

Crude palm oil prices in spot market prices dropped 1.10 rupees and settled at 502.60 rupees.