29/09/2010 (Commodity Online) - The crude palm oil futures fell further on extended selling pressure moving in line with weak other oil market.

Indian market also took cues from weak Malaysian palm oil futures. Projection of record oil import in India and huge inventory had a bearish impact on the market.

Outlook
The CPO futures are projected to trade lower on extended selling pressure. The weakness in entire oil and oilseeds market is likely to extend its effect to CPO market.

Indian CPO market is likely to move in line with weak overseas market. India’s edible oil import in the current and next oil year is projected higher compared to last year.

Malaysian palm oil futures are trading down borrowing weakness from the CBOT soy market. The active December contract BMD CPO futures are trading at MYR2716 per ton, down 0.77%.