 "Crude palm oil rises by 0.4% on tight supply")
Rising for the sixth straight day, crude palm oil prices rose 0.45% to Rs 447.80 per 10 kg in futures trade today as speculators engaged in enlarging positions, triggered by tight supplies from producing belts.
Also, surging demand in the spot market supported the upside.
At Multi Commodity Exchange, crude palm oil for delivery in June month advanced by Rs 2, or 0.45% to Rs 447.80 per 10 kg in business turnover of 27 lots.
Analysts said besides rising demand in the spot market, restricted supplies from producing regions mainly kept crude palm oil prices higher at futures trade.
Also, surging demand in the spot market supported the upside.
At Multi Commodity Exchange, crude palm oil for delivery in June month advanced by Rs 2, or 0.45% to Rs 447.80 per 10 kg in business turnover of 27 lots.
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The oil for delivery in May contracts edged up by Rs 1.50, or 0.34% to Rs 445.00 per 10 kg in 103 lots.
Analysts said besides rising demand in the spot market, restricted supplies from producing regions mainly kept crude palm oil prices higher at futures trade.