Crude palm oil moved up by Rs 2.60 to Rs 490.50 per 10 kg in futures trading today, supported by rising demand in the spot market for the ongoing festive season.
At the Multi Commodity Exchange, September crude palm oil rose by Rs 2.60, or 0.53%, to Rs 490.50 per 10 kg, with a business turnover of 150 lots.
The August contract was trading higher by 20 paise, or 0.04%, at Rs 490.20 per 10 kg in 60 lots.
Market analysts said apart from a firming trend in the spot market, a pick-up in demand due to the ongoing festive season pushed up crude palm oil futures prices.