 "Palm oil up 0.8% on upsurge in demand")
Amidst rising demand, crude palm oil prices rose further by 0.80% to Rs 526 per 10 kg in futures trade today as speculators enlarged positions.
At the Multi Commodity Exchange, crude palm oil for delivery in June advanced by Rs 4.20, or 0.80%, to Rs 526 per 10 kg in business turnover of 58 lots.
Similarly, the oil for delivery in July contract gained Rs 4.10, or 0.79%, to Rs 525.20 per 10 kg in 94 lots.
Analysts said the rise in crude palm oil prices in futures trade was mostly supported by rising demand in the spot market amidst tight supplies from producing regions.
At the Multi Commodity Exchange, crude palm oil for delivery in June advanced by Rs 4.20, or 0.80%, to Rs 526 per 10 kg in business turnover of 58 lots.
Similarly, the oil for delivery in July contract gained Rs 4.10, or 0.79%, to Rs 525.20 per 10 kg in 94 lots.
Analysts said the rise in crude palm oil prices in futures trade was mostly supported by rising demand in the spot market amidst tight supplies from producing regions.