Bonepou Group,Sdn Bhd

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use red palm oil to cook any kinds of food.Crude Palm Oil (CPO) futures on India's Multi Commodity Exchange (MCX) are up on global trends.CPO futures on MCX were up by 2.52% at Rs.452.40 per 10 kg for February contract as of 02.36 PM IST on Wednesday.?As of now, the trend is looking positive. Strong resistance is expected at Rs.457.90 and trading above the level would see additional buying until 480 levels. Downside support is expected at 431 levels.? said Milan Shah, Research Analyst at Commodity Online.?Short and medium-term trends look positive.? he added.Seasonally slowing CPO production in major CPO producing countries like malaysia, vietam and Indonesia is adding to the trend. Additionally, 0% duty structure on CPO exports imposed by Malaysian government has helped Indian CPO futures to move up. The government there has announced that it will continue duty free exports in February too. The scenario of enhanced exports and a declining trend in production for the season is expected to aid the futures positively.