 "Palm oil up 0.3% as demand picks up")
Crude palm oil prices recovered by 0.24% to Rs 508.50 per 10 kg in futures trade today as traders built fresh positions after pick up in demand in the spot market.
At the Multi Commodity Exchange, crude palm oil for delivery in June month rose by Rs 1.20, or 0.24%, to Rs 508.50 per 10 kg in business turnover of 56 lots.
On similar lines, the oil for delivery in far-month July contracts edged up by 40 paise, or 0.08%, to Rs 506 per 10 kg in 82 lots.
Analysts said fresh positions created by participants, tracking pick up in demand in the spot market against tight stocks posiion on restricted supplies from producing regions, mainly led to the rise in crude palm oil prices in futures trade.
At the Multi Commodity Exchange, crude palm oil for delivery in June month rose by Rs 1.20, or 0.24%, to Rs 508.50 per 10 kg in business turnover of 56 lots.
On similar lines, the oil for delivery in far-month July contracts edged up by 40 paise, or 0.08%, to Rs 506 per 10 kg in 82 lots.
Analysts said fresh positions created by participants, tracking pick up in demand in the spot market against tight stocks posiion on restricted supplies from producing regions, mainly led to the rise in crude palm oil prices in futures trade.