 "Crude palm oil extend gains on spot demand")
Continued its rising streak for the third straight day, crude palm oil prices advanced 0.43% to Rs 472.40 per 10 kg in futures market today as speculators enlarged positions, tracking a firm trend at spot market on strong demand.
Firming trend in the overseas markets also boosted the sentiment.
At the Multi Commodity Exchange, crude palm oil for delivery in far-month February added Rs 2, or 0.43% to Rs 472.40 per 10 kg in business turnover of 282 lots.
Analysts said besides strong demand in the spot market, a firming global trend mainly kept crude palm oil prices higher at futures trade.
Firming trend in the overseas markets also boosted the sentiment.
At the Multi Commodity Exchange, crude palm oil for delivery in far-month February added Rs 2, or 0.43% to Rs 472.40 per 10 kg in business turnover of 282 lots.
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Similarly, the oil for delivery in January contract rose by Rs 1.70, or 0.37% to Rs 464.50 per 10 kg in 213 lots.
Analysts said besides strong demand in the spot market, a firming global trend mainly kept crude palm oil prices higher at futures trade.