Crude palm oil prices rose by Rs 3.10 to Rs 520.70 per 10 kg in futures trade today as speculators created fresh positions on expectations of a rise in demand in spot markets.
Firming trend overseas also influenced the crude palm oil prices at future market.
At the Multi-Commodity Exchange, crude palm oil for January delivery rose by Rs 3.10, or 0.59% to Rs 520.70 per 10 kg with trading volume of 116 lots, while February month delivery gained by Rs 2.20, or 0.42%, to Rs 523.50 per 10 kg, in 70 lots.
The December contract moved up by Rs 1.60, or 0.31%, to Rs 515 per 10 kg with business volume of four lots.
Analysts said fresh buying by speculators on hopes of pick up in demand in the spot market following ongoing marriage season, mainly led to rise in crude palm oil at futures market.
In Malaysia, palm oil advanced by 0.6% to 3,089 ringgit ($972) per metric tonne on concerns that wet weather and flooding in Malaysia, the second-largest grower, may hamper harvest and lower supplies.