* Crude palm oil dropped tracking weak trend in palm oil in Malaysia and expectation of weak demand for edible oil in the country.
* Malaysia lowered its export tax on crude palm oil for August to 4.5 percent, the Malaysian Palm Oil Board said, citing the national customs department.
* The government has slashed the base import price of CPO and RBD Palmolein by $26to $618 per ton and $27 to $646 per ton respectively.
Crude palm oil prices in spot market dropped by 4.90 rupees and settled at 623.60 rupees.
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