Crude palm oil prices rose by Rs 2.10 to Rs 517.60 per 10 kg in futures trade today as speculators enlarged their positions on the back of a firming global trend.
At the Multi Commodity exchange, crude palm oil for delivery in May rose by Rs 2.10, or 0.41% to Rs 517.60 per 10 kg, with a business turnover of two lots.
Likewise, the oil for delivery in June gained Rs 1.60, or 0.31% to Rs 514.20 per 10 kg, with an open interest of a single lot.
Analysts said increased buying by speculators, driven by rising demand in the spot market amid firming global trend, mainly led to the rise in crude palm oil futures prices.
Meanwhile, palm oil for the July-delivery contract advanced by 0.8% to $1,102 a metric tonne on the Malaysia Derivatives Exchange.