MCX CRUDE PALM OIL GAINS BY 1.2% ON PICKS UP DEMAND

Crude palm oil prices gained 1.17% to Rs 448 per 10 kg in futures trade today as speculators created fresh positions amid pick-up in domestic demand and restricted supplies from producing belts.CPO trading range for the day is 430-445.4.
At the MCX crude palm oil for delivery in April rose by Rs 5.20, or 1.17%, to Rs 448 per 10 kg in business turnover of 380 lots.
Similarly, the oil for delivery in March traded higher by Rs 4.40, or 1%, to Rs 442.50 per 10 kg in 134 lots.
Analysts said fresh positions built up by speculators after pick-up in demand in the spot market against restricted supplies from producing areas mainly led to the rise in crude palm oil prices at futures trade.
Crude palm oil prices in spot market dropped by 2.60 and settled at 436.50 rupees.

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