Crude palm oil prices rose by Rs 1.80 to Rs 573 per 10 kg in futures trade today as speculators created fresh positions on expectations of a pick up in the spot market demand amid low stocks.
A firming trend in overseas markets supported the oil prices in futures trade.
On the Multi Commodity Exchange, crude palm oil for August delivery rose by Rs 1.80, or 0.31%, to Rs 573 per 10 kg, with a trading volume of 1,230 lots.
The September contract moved up by Rs 1.60, or 0.28%, to Rs 572.40 per 10 kg, with a business turnover of 1,465 lots.
Analysts said fresh buying by speculators on hopes of a pick up in the spot market demand due to festive season led to the rise in crude palm oil prices.