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Crude palm oil futures trade higher on pickup in demand

Crude palm oil futures traded higher on MCX as traders created fresh positions amid pickup in demand in the spot market. Moreover, tight stocks position on fall in supplies from producing regions also added support to crude palm oil prices' uptrend.

The contract for July delivery was trading at Rs 491.20, up by 0.97% or Rs 4.70 from its previous closing of Rs 486.50. The open interest of the contract stood at 5511 lots.

The contract for August delivery was trading at Rs 485.70, up by 1.00% or Rs 4.80 from its previous closing of Rs 480.90. The open interest of the contract stood at 2720 lots on MCX.

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