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Crude palm oil futures surge on firm demand

Crude palm oil futures surged on MCX, as speculators widened their positions amid firm demand against tight stocks position on restricted supplies from overseas markets. Besides, a positive trend in overseas markets supported the up move.

The contract for August delivery was trading at Rs 603.00, up by 0.57% or Rs 3.40 from its previous closing of Rs 599.60. The open interest of the contract stood at 5406 lots.

The contract for September delivery was trading at Rs 601.50, up by 0.53% or Rs 3.20 from its previous closing of Rs 598.30. The open interest of the contract stood at 6698 lots on MCX.

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