19/06/2013 (Myiris.com) - CPO June futures at MCX ended up tracking higher export data for Jun 1-15. Ramadan festival ahead in July is aiding in good export of Palm oil. As per cargo surveyor Intertek, total Malaysian Palm oil exports are likely to have risen above 18.5% month-on-month to 7,09,860 Tons from 5,99,300 tons of May's corresponding period.

"CPO is likely to in range with firm bias on good export data for June 1-15 amid Ramadan festival demand but the extent of upside may be limited on good supply outlook for the year," said Emkay Commodity Research.

Commenting on the trading strategy, Emkay said, ''After profit booking buying was observed in MCX CPO June contract on Saturday. Buy on dips should be the strategy for the day. We recommend buying June contract at Rs 494-492 with target at Rs 500 and stop loss at Rs 490.''