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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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