CPO trading range for the day is 474.3-490.5. Crude palm oil gains on short covering tracking firmness in spot demand after prices dropped on expectations of rising production for the month of July. However there are forecasts that July production levels will be higher on-month from 1.51 million tonnes reached in June.As per SEA, palm oil import raised 21.6% y-o-y to 7.99 lt in May on higher shipment of crude palm oil (CPO). Crude palm oil prices in spot market dropped by 1.70 rupees and settled at 489.30 rupees.
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