Crude palm oil futures prices rose by Rs 4.50 to Rs 552.20 per 10 kg in futures trade today as speculators indulged in creating fresh positions on expectations of a rise in demand in the spot market.
Firming trend in overseas markets also influenced the crude palm oil prices at futures market.
On the Multi Commodity exchange counter, crude palm oil for delivery in January rose by Rs 4.50, or 0.82 per cent, to Rs 552.20 per kg, with a business turnover of 413 lots.
Similarly, the oil for delivery in February moved up by Rs 3.10, or 0.55 per cent, to Rs 557 per 10 kg, with an business turnover of 555 lots.
Market analysts said fresh buying by speculators on hopes of pick-up in demand in the spot market, led to the rise in crude palm oil at futures market.
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