Crude palm oil edged higher by Rs 8.10 to Rs 464.50 per 10 kg in futures trade today, as speculators created fresh positions on expectations of a rise in demand for the ongoing festive and marriage season.
At the Multi Commodity Exchange counter, crude palm oil for January-month contract rose by Rs 8.10, or 1.72 per cent, to Rs 464.50 per 10 kg, with a trading volume of 12 lots, while December-month contract gained by Rs 7.50, or 1.55 per cent, to Rs 461.90 per 10 kg, with a business volume of 77 lots.
Similarly, the oil for delivery in November contract moved up by Rs 7.20, or 1.40 per cent to Rs 460.20 per 10 kg, with a business volume of 74 lots.
Analysts said fresh demand in the spot markets supported the upside in crude palm oil at futures market here.