 "Crude palm oil up 0.5% on firm global cues")
Crude palm oil rose further by Rs 3.20 to Rs 567.50 per 10 kg in futures trade today as speculators indulged in expanding positions amid a firming trend overseas and strong demand in the spot market.
At the Multi Commodity Exchange, crude palm oil for delivery in December rose by Rs 3.20, or 0.56%, to Rs 567.50 per 10 kg with a business turnover of 89 lots.
The oil for November delivery increased by Rs 2.40, or 0.42%, to Rs 567.30 per 10 kg, with trading volume of 194 lots.
Globally, in Malaysia, the contracts for delivery in January advanced 0.40% to 2,603 ringgit (USD 821) a metric tonne on the Bursa Malaysia Derivatives Exchange on speculation that output in top suppliers Indonesia and Malaysia will slow as the high-output cycle ends.
At the Multi Commodity Exchange, crude palm oil for delivery in December rose by Rs 3.20, or 0.56%, to Rs 567.50 per 10 kg with a business turnover of 89 lots.
The oil for November delivery increased by Rs 2.40, or 0.42%, to Rs 567.30 per 10 kg, with trading volume of 194 lots.
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The sentiment improved after the supplies from the overseas market reduced and strong demand also influenced prices, traders said.
Globally, in Malaysia, the contracts for delivery in January advanced 0.40% to 2,603 ringgit (USD 821) a metric tonne on the Bursa Malaysia Derivatives Exchange on speculation that output in top suppliers Indonesia and Malaysia will slow as the high-output cycle ends.