India, Jan. 15 -- Technically Crude Palm Oil market is under long liquidation as market has witnessed drop in open interest by 1. 77% to settled at 3993 while prices down 19.5 rupees.
Now MCX Crude Palm Oil is getting support at 940.8 and below same could see a test of 924.4 levels and resistance is now likely to be seen at 975.1 a move above could see prices testing 993.
Crude Palm Oil yesterday settled down by 2% at 957.1 amid concerns of tepid demand as the world's second-largest palm exporter maintained its high export tax rate of 8% for next month.
Exports during Jan. 1-10 fell between 30% and 35% from the same period in December cargo surveyors Surveillance said.
Malaysia kept its export duty for crude palm oil at 8% for February ...