 "Crude palm oil rises by 1.9% as demand picks up")
Crude palm oil prices rose 1.92% to Rs 402.90 per 10 kg in futures trading today as participants indulged in creating fresh positions supported by strong demand in the spot market amid a firming trend overseas.
At the Multi Commodity Exchange, crude palm oil for delivery this month rose by Rs 7.60, or 1.92%, to Rs 402.90 per 10 kg in a business turnover of 392 lots.
Likewise, the oil for delivery in January 2016 was trading up by Rs 4.70, or 1.16%, to Rs 409.20 per 10 kg in 265 lots.
Analysts said speculators creating fresh positions driven by pick up in demand in the spot market and a firming trend in the global market mainly led to the rise in crude palm oil prices at the futures trade.
At the Multi Commodity Exchange, crude palm oil for delivery this month rose by Rs 7.60, or 1.92%, to Rs 402.90 per 10 kg in a business turnover of 392 lots.
Likewise, the oil for delivery in January 2016 was trading up by Rs 4.70, or 1.16%, to Rs 409.20 per 10 kg in 265 lots.
Analysts said speculators creating fresh positions driven by pick up in demand in the spot market and a firming trend in the global market mainly led to the rise in crude palm oil prices at the futures trade.