 "Crude palm oil up 0.7% on spot demand")
Crude palm oil prices edged up marginally by Rs 3.70 to Rs 492.50 per 10 kg in futures trade today as speculators created fresh positions amid rising demand in the spot market.
A firming trend in the overseas markets also influenced crude palm oil prices at futures trade here.
On the Multi Commodity Exchange, crude palm oil for June delivery rose by Rs 3.70, or 0.75%, to Rs 492.50 per kg, with a trading volume of 213 lots.
Analysts said fresh buying by speculators on the back of firm demand in the spot market and a firming trend overseas mainly led to a rise in crude palm oil prices at futures market.
Meanwhile, in Malaysia, the August-delivery contract advanced by as much as 1.10% to 2,462 ringgit ($796) a tonne on the Malaysia Derivatives Exchange.
A firming trend in the overseas markets also influenced crude palm oil prices at futures trade here.
On the Multi Commodity Exchange, crude palm oil for June delivery rose by Rs 3.70, or 0.75%, to Rs 492.50 per kg, with a trading volume of 213 lots.
Also Read
Similarly, crude palm oil for delivery in July moved up by Rs 3.40, or 0.69%, to Rs 493 per 10 kg, with a business turnover of 226 lots.
Analysts said fresh buying by speculators on the back of firm demand in the spot market and a firming trend overseas mainly led to a rise in crude palm oil prices at futures market.
Meanwhile, in Malaysia, the August-delivery contract advanced by as much as 1.10% to 2,462 ringgit ($796) a tonne on the Malaysia Derivatives Exchange.