14/01/2011 (Commodity Online) - The crude palm oil futures extended its bearish trend for fourth day in a row on selling pressure and weak demand for the produce.

Likely government intervention to control higher food inflation led the market to come under pressure.

Weakness in soy oil market weighed on the Indian CPO market despite firm trend in BMD market.

Outlook
The crude palm oil futures are expected to trade on a weaker note on Friday on extended selling pressure.

BMD palm oil futures are trading lower on profit booking and reacting to weak CBOT soy oil market. Indian traders are likely to sell futures anticipating likely government intervention to control higher food inflation.

Talk of removing 7.5% import tax on palmolein is circulating in the market. If the government cut the taxes, it will have a bearish impact on the market.