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Crude palm oil rises 0.6% on spot demand

Increased buying by speculators pushes up prices

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Press Trust of India New Delhi
Last Updated : Jan 24 2013 | 2:10 AM IST

Crude palm oil prices were up by Rs 3.20 to Rs 541.70 per 10 kg in futures trading today as speculators enlarged their positions, tracking a firm trend at spot market on pick up in demand.

At the Multi Commodity Exchange, crude palm oil for delivery in October rose by Rs 3.20, or 0.59%, to Rs 541.70 per 10 kg, with a business turnover of 108 lots.

The September contract edged higher by Rs 2.90, or 0.54%, to Rs 538.60 per 10 kg, with a business turnover of 52 lots.

Marketmen said increased buying by speculators due to rise in spot market demand helped crude palm oil futures to trade higher.

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First Published: Sep 13 2012 | 11:43 AM IST

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