Crude palm oil prices rose for the fourth consecutive day by adding another Rs 2.30 to Rs 518 per 10 kg in futures trade today as speculators enlarged their positions, driven by a firming trend overseas and firm domestic demand.
At the Multi Commodity Exchange, crude palm oil for delivery in July added Rs 2.30, or 0.44% to Rs 518 per 10 kg, with a business turnover of four lots.
Similarly, the oil for delivery in June edged up by Rs 2.30, or 0.44% to Rs 520.30 per 10 kg, with a business volume of 18 lots.
Crude palm oil for May delivery rose by 90 paise, or 0.17% to Rs 521.20 per kg, with trading volume of 13 lots.
Analysts said besides a firming trend in overseas markets, pick-up in spot market demand mainly pushed up crude palm oil futures prices.