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Crude Palm Oil futures up amid pickup in demand

By Religare

Crude Palm Oil (CPO) futures rose in the domestic market on Friday as investors and speculators enlarged positions in the agri-commodity amid a pickup in physical demand for CPO in the domestic spot market.

Investors across the globe are hoping for a rebound in demand for the agri-commodity as traders undertake restocking ahead of the Muslim fasting month of Ramadan which falls in July.

At the Multi-Commodity Exchange (MCX), CPO futures for the May 2013 contract are trading at 475 per 10 kg, up by 0.38 per cent, after opening at Rs 474.40, against a previous close of Rs 473.20. It touched an intra-day high of Rs 475.20. (At 12:39 PM).

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Story first published: Friday, May 24, 2013, 23:32 [IST]
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