CPO trading range for the day is 484.3-495.1.Crude palm gained on short covering after prices dropped as there are reports 21% rise in palm imports in the month of May. However, good stocks in the country due to higher imports during last month pressurizing prices. Data from industry regulator the MPOB showed May end-stocks falling 2.6% from the previous month to 1.56 mt, while production rose 6.9%. Crude palm oil prices in spot market dropped by 0.50 rupees and settled at 496.30 rupees.
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