The crude palm oil futures traded on a positive note during early hours of Saturday on account of short cover-ing and taking cues from firm trend in entire edible oil market.

But, later market pared its earlier gains on account of profit taking and reacting to bearish fundamental factors.

The active June contract MCX CPO futures traded in the range of Rs.362.80-364.50 per 10 kg and settled at Rs.363.10 per 10 kg.

Outlook

The crude palm oil futures are expected to trade positive during the day tracking firm Malaysian market. MDEX palm oil futures are trading on a positive note reacting to rise in export of palm oil.

According to Intertek Agri Services, palm oil exports from Malaysia during June 1st to 20th period rose 17% to 906,321 tonnes as compared to 775,995 tonnes in the same period last month.

The active September CPO futures are trading at MYR2403 per tonne, up 0.13%.

Courtesy: Angel Commodities

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