Crude palm oil is set for a weekly gain as demand for the oil surges in the spot market. According to analysts, traders created fresh positions in crude palm oil due to rising demand. Further, limited supplies also exerted an upward pressure on the commodity.
At the MCX, CPO for May 2013 contract was trading at Rs. 475.00, up by 0.38 per cent after opening at Rs. 474.40 against the previous close of Rs. 473.20. It touched the intra-day high of Rs. 475.20 till the trading. (At 12.28 PM today)