 "Crude palm oil up 0.5% on firm global cues")
Crude palm oil rose by Rs 2.70 to Rs 517.80 per 10 kg in futures trade today as speculators indulged in expanding their positions on strong demand in the spot market.
The sentiment improved further on tight supplies from the overseas market against strong demand.
At the Multi Commodity Exchange, crude palm oil for delivery in November rose by Rs 2.70, or 0.52%, to Rs 517.80 per 10 kg, with a business turnover of 132 lots.
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The oil for October delivery increased by Rs 2.40, or 0.46%, to Rs 521.90 per 10 kg, with trading volume of 158 lots.
Marketmen attributed the rise in crude palm oil prices at futures trade to higher spot demand and a firming global trend. Oil climbed to USD 738 a tonne on the Malaysia Derivatives Exchange.