Crude palm oil futures trade higher on rising demand

Crude palm oil futures edged marginally higher on MCX as speculators created fresh positions driven by rising demand in spot markets against tight supplies from the major producing belts. However, weakness in overseas prices capped some gains in crude palm oil prices. The contract for May delivery was trading at Rs 537.20, up by 0.02% or Rs 0.10 from its previous closing of Rs 537.10. The open interest of the contract stood at 1747 lots. The contract for June delivery was trading at Rs 533.10, up by 0.06% or Rs 0.30 from its previous closing of Rs 532.80. The open interest of the contract stood at 3103 lots on MCX.