Crude palm oil price rose by Rs 3.60 or 0.86 per cent to Rs 419 per 10 kg in futures trade today, as speculators indulged in creating fresh positions on expectations of a rise in spot market demand.
At the Multi Commodity exchange, crude palm oil for September month contract rose by Rs 3.60 or 0.86 per cent to Rs 419 per 10 kg with trading volume of 70 lots, while October month contract gained by Rs three or 0.73 per cent to Rs 413.90 per 10 kg in 13 lots.
Similarly, the oil for delivery in current month contract moved up by Rs 2.50 or 0.60 per cent to Rs 419 per 10 kg with business volume of 58 lots.
Analysts said fresh buying by speculators anticipating pick up in demand in the spot market led to rise in crude palm oil prices at futures market.