 "Crude palm oil futures up 0.1% on firm spot demand")
Crude palm oil futures prices today rose by 0.19% to Rs 502.50 per 10 kg, as speculators created fresh positions on expectations of pick up in spot demand amid low stocks.
A firming trend in overseas markets also supported the oil prices in futures trade.
On the Multi Commodity Exchange, crude palm oil for July delivery rose by Re one, or 0.19%, to Rs 502.50 per 10 kg, with a trading volume of 141 lots.
Analysts said fresh buying by speculators on hopes of pick-up in spot market demand mainly led to a rise in crude palm oil prices at futures market.
They said, palm oil rebounded from the lowest level in almost six weeks on speculation that inventories in Malaysia, the world's second-largest producer, may drop for a sixth month on increasing exports.
Meanwhile, the crude palm oil advanced 0.80% to $745 a tonne on the Malaysia Derivatives Exchange.
A firming trend in overseas markets also supported the oil prices in futures trade.
On the Multi Commodity Exchange, crude palm oil for July delivery rose by Re one, or 0.19%, to Rs 502.50 per 10 kg, with a trading volume of 141 lots.
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Similarly, crude oil for delivery in August moved up by 40 paise, or 0.07%, to Rs 502.50 per 10 kg, with a business turnover of 66 lots.
Analysts said fresh buying by speculators on hopes of pick-up in spot market demand mainly led to a rise in crude palm oil prices at futures market.
They said, palm oil rebounded from the lowest level in almost six weeks on speculation that inventories in Malaysia, the world's second-largest producer, may drop for a sixth month on increasing exports.
Meanwhile, the crude palm oil advanced 0.80% to $745 a tonne on the Malaysia Derivatives Exchange.