Crude palm oil prices rose by Rs 7.90, or 2.00 per cent, to Rs 423.80 per 10 kg in futures trade today, as speculators created fresh positions on expectations of a rise in demand in the spot market.
Firming trend in overseas market also influenced the crude palm oil prices at futures market.
At the Multi Commodity Exchange counter, crude palm oil for November contract rose Rs 7.90, or two per cent, to Rs 423.80 per 10 kg, with a trading volume of four lots.
Similarly, the oil for delivery in October contract moved up by Rs 6.90, or 1.65 per cent, to Rs 425 per 10 kg, with a business volume of 144 lots, while September contract inched up by Rs 6.60, or 1.57 per cent, to Rs 426 per 10 kg, with a trading volume of 166 lots.
Analysts said fresh buying by speculators on hopes of pick up in demand in the spot market, mainly led to a rise in crude palm oil at futures market.