 "Crude palm oil prices up on rising demand")
Crude palm oil prices gained for the second day today, up 0.44 per cent at Rs 507.10 per kg, in futures trading as speculators enlarged positions, taking positive cues from spot market on rising demand.
Tight stocks position in the physical market due to restricted arrivals from producing regions also supported the uptrend in crude palm oil prices.
At the Multi Commodity Exchange, crude palm oil for delivery in June gained Rs 2.20, or 0.44 per cent to Rs 507.10 per 10 kg in business turnover of 71 lots.
Analysts said speculators enlarged positions on the back of rising demand in the spot market mainly kept crude palm oil prices remain up at futures trade.
Tight stocks position in the physical market due to restricted arrivals from producing regions also supported the uptrend in crude palm oil prices.
At the Multi Commodity Exchange, crude palm oil for delivery in June gained Rs 2.20, or 0.44 per cent to Rs 507.10 per 10 kg in business turnover of 71 lots.
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The July contract added Rs 2.20, or 0.44 per cent to Rs 505.60 per 10 kg in 42 lots.
Analysts said speculators enlarged positions on the back of rising demand in the spot market mainly kept crude palm oil prices remain up at futures trade.