 "Crude palm oil up 0.5% on rise in demand")
Crude palm oil futures prices rose by Rs 2.90 to Rs 535.90 per 10 kg today as speculators created fresh positions on hopes of rise in spot demand.
A firm trend in overseas markets also influenced the crude palm oil prices in the futures market.
At the Multi Commodity Exchange crude palm oil for September rose by Rs 2.90, or 0.54%, to Rs 535.90 per 10 kg, with a trading volume of 77 lots.
Marketmen said fresh buying by speculators on hopes of a pick-up in spot demand amid firming overseas trend mainly led to the rise in crude palm oil futures prices.
The crude palm oil advanced 0.90% to 727 dollar a metric ton on the Malaysia Derivatives Exchange.
A firm trend in overseas markets also influenced the crude palm oil prices in the futures market.
At the Multi Commodity Exchange crude palm oil for September rose by Rs 2.90, or 0.54%, to Rs 535.90 per 10 kg, with a trading volume of 77 lots.
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Similarly, the oil for delivery in October moved up by Rs 2.30, or 0.43%, to Rs 525.30 per 10 kg, with a business volume of 92 lots.
Marketmen said fresh buying by speculators on hopes of a pick-up in spot demand amid firming overseas trend mainly led to the rise in crude palm oil futures prices.
The crude palm oil advanced 0.90% to 727 dollar a metric ton on the Malaysia Derivatives Exchange.