 "Crude palm oil marginally up on spot demand")
Crude palm oil prices marginally up by Rs 1.40 to Rs 475.90 per 10 kg in futures trade today as speculators created fresh positions amid pick-up in demand in spot markets.
On the Multi Commodity Exchange (MCX), the May contract rose by Rs 1.40, or 0.29%, to Rs 475.90 per kg in 34 lots.
The June contract went up by Rs 1.10, or 0.23%, to Rs 476 per 10 kg in 64 lots.
Meanwhile in Malaysia, palm oil traded at nearly six weeks high on speculation that demand may increase ahead of the Muslim fasting month of Ramadan, boosting exports from Malaysia, the world's second-largest producer.
The contract for the August delivery was little changed at 2,368 ringgit ($781) a metric tonne on the Malaysia Derivatives Exchange (MDEX).
On the Multi Commodity Exchange (MCX), the May contract rose by Rs 1.40, or 0.29%, to Rs 475.90 per kg in 34 lots.
The June contract went up by Rs 1.10, or 0.23%, to Rs 476 per 10 kg in 64 lots.
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Analysts said fresh positions created by speculators following pick-up in demand in spot markets, mainly led to a rise in crude palm oil prices at futures market.
Meanwhile in Malaysia, palm oil traded at nearly six weeks high on speculation that demand may increase ahead of the Muslim fasting month of Ramadan, boosting exports from Malaysia, the world's second-largest producer.
The contract for the August delivery was little changed at 2,368 ringgit ($781) a metric tonne on the Malaysia Derivatives Exchange (MDEX).