Crude palm oil futures trade up on higher demand

Crude palm oil futures traded marginally higher as speculators enlarged their positions after pick-up in domestic as well as export demand. An increase in Malaysian crude palm oil production and stockpiles, capped the gains in crude palm oil prices to some extent. The contract for June delivery was trading at Rs 510.00, up by 0.16% or Rs 0.80 from its previous closing of Rs 509.20. The open interest of the contract stood at 2012 lots. The contract for July delivery was trading at Rs 506.80, up by 0.16% or Rs 0.80 from its previous closing of Rs 506.00. The open interest of the contract stood at 4854 lots on MCX.