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).