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Crude palm oil futures surge on uptick in demand

Crude palm oil futures surged on MCX as participants built up fresh positions following uptick in demand in the spot market. Besides, a firm trend in the global market also added support to crude palm oil prices' uptrend.

The contract for August delivery was trading at Rs 560.10, up by 2.85% or Rs 15.50 from its previous closing of Rs 544.60. The open interest of the contract stood at 3775.00 lots.

The contract for September delivery was trading at Rs 549.50, up by 2.79% or Rs 14.90 from its previous close of Rs 534.60. The open interest of the contract stood at 4219.00 lots on MCX.

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