 "Palm oil up 0.5% on rising demand")
Extending its gain for the third straight day, crude palm oil prices advanced by 0.50% to Rs 502 per 10 kg in futures trading today as traders engaged in enlarging positions, taking positive cues from spot market on strong demand.
At the Multi Commodity Exchange, crude palm oil for delivery in far-month August gained Rs 2.50, or 0.50% to Rs 502 per 10 kg in business turnover of 41 lots.
On similar lines, the oil for delivery in July contracts went up by Rs 2.30, or 0.46% to Rs 503.80 per 10 kg in 163 lots.
Analysts said expanding of positions by participants, driven by strong demand in the spot market against tight stocks position restricted supplies from producing regions kept crude palm oil prices higher at futures trade.
At the Multi Commodity Exchange, crude palm oil for delivery in far-month August gained Rs 2.50, or 0.50% to Rs 502 per 10 kg in business turnover of 41 lots.
On similar lines, the oil for delivery in July contracts went up by Rs 2.30, or 0.46% to Rs 503.80 per 10 kg in 163 lots.
Analysts said expanding of positions by participants, driven by strong demand in the spot market against tight stocks position restricted supplies from producing regions kept crude palm oil prices higher at futures trade.