 "Palm oil up 0.5% on rising demand")
Crude palm oil prices rose further by 0.49% to Rs 432 per 10 kg in futures trade today as speculators enlarged their positions, tracking a firm trend at spot market on rising demand.
Besides, tight stocks positions in the physical market on restricted arrivals from producing regions also supported the upside.
At the Multi Commodity Exchange, crude palm oil for delivery in October rose by Rs 2.10, or 0.49%, to Rs 432 per 10 kg in business turnover of 65 lots.
Analysts said besides rising demand in the spot market, limited arrivals from producing regions mainly kept crude palm oil prices higher in futures trade.
Besides, tight stocks positions in the physical market on restricted arrivals from producing regions also supported the upside.
At the Multi Commodity Exchange, crude palm oil for delivery in October rose by Rs 2.10, or 0.49%, to Rs 432 per 10 kg in business turnover of 65 lots.
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In a similar fashion, the oil for delivery in September gained Rs 1.80, or 0.41%, to Rs 438.60 per 10 kg in 50 lots.
Analysts said besides rising demand in the spot market, limited arrivals from producing regions mainly kept crude palm oil prices higher in futures trade.