 "Palm oil up 0.6% on spot demand")
Crude palm oil prices rebounded by 0.62% to Rs 441.50 per 10 kg in futures market today as speculators indulged in creating fresh positions amid pick up in demand in the spot market.
Besides, tight stocks position in the physical market on restricted arrivals from producing belts supported the uptrend.
At the Multi Commodity Exchange, crude palm oil for delivery in October was up by Rs 2.70, or 0.62%, to Rs 441.50 per 10 kg in a business turnover of 89 lots.
Analysts said fresh positions built up by speculators due to pick up in demand in the spot market in view of festive season mainly led to the rise in crude palm oil prices at futures trade.
Besides, tight stocks position in the physical market on restricted arrivals from producing belts supported the uptrend.
At the Multi Commodity Exchange, crude palm oil for delivery in October was up by Rs 2.70, or 0.62%, to Rs 441.50 per 10 kg in a business turnover of 89 lots.
Also Read
Similarly, the oil for delivery in November traded higher by Rs 2.50, or 0.57%, to Rs 443.50 per 10 kg in 77 lots.
Analysts said fresh positions built up by speculators due to pick up in demand in the spot market in view of festive season mainly led to the rise in crude palm oil prices at futures trade.