Crude palm oil prices rose by Rs 2.80 to Rs 506.60 per 10 kg in futures trade today as speculators created fresh positions influenced by a firming global trend.
At the Multi Commodity Exchange, crude palm oil for delivery in April rose by Rs 2.80, or 0.56% to Rs 506.60 per 10 kg with a business turnover of single lot.
Similarly, the oil for delivery in May gained Rs 2.60, or 0.52% to Rs 503.80 per 10 kg, with an open interest of just one lot.
Analysts attributed the uptrend in crude palm oil futures prices to fresh buying by speculators in tandem with a firming global trend.
Meanwhile, palm oil gained 0.4% a tonne on the Malaysia Derivatives Exchange.