22/04/2011 (Commodity Online) - The crude palm oil futures showed a positive trend on Wednesday gaining for second consecutive day on extended short covering and emergence of buying interest.

Positive trend in BMD palm futures gave underlying support to the Indian market. A rise in entire oil and oilseeds market supported the CPO futures to trade on a positive note on Wednesday.

Outlook

The CPO futures are forecast to extend its positive trend on Thursday on follow through buying and taking support from international market.

After a weak opening, BMD palm oil futures are trading on a positive note at 0930 IST taking cues from firm CBOT soy market. Indian market is likely to witness a positive trend tracking firmness in soy market.

Domestic traders and investors are likely to buy CPO futures anticipating lower import of CPO in April month. Rise in Indian parity for palm oil is likely to render support to the market.