 "Palm oil price escalates by 0.2% on spot demand")
Amidst rising domestic demand, crude palm oil prices moved up by 0.23% to Rs 528 per 10 kg in futures trade today as speculators created positions.
At the Multi Commodity Exchange, crude palm oil for delivery in July gained Rs 1.20, or 0.23% to Rs 528 per 10 kg in business turnover of 35 lots.
Similarly, the oil for delivery in August contract edged up by Re one, or 0.19% to Rs 515 per 10 kg in 24 lots.
Market analysts said the rise in crude palm oil prices at futures trade was mostly attributed to increased positions built-up by speculators following rising demand in the spot market amid tight supplies from producing regions.
At the Multi Commodity Exchange, crude palm oil for delivery in July gained Rs 1.20, or 0.23% to Rs 528 per 10 kg in business turnover of 35 lots.
Similarly, the oil for delivery in August contract edged up by Re one, or 0.19% to Rs 515 per 10 kg in 24 lots.
Market analysts said the rise in crude palm oil prices at futures trade was mostly attributed to increased positions built-up by speculators following rising demand in the spot market amid tight supplies from producing regions.