Crude palm oil futures remain higher on spot demand

Crude palm oil futures prices continued to rise for the third straight day today by adding Rs 8.70 to Rs 507.20 per 10 kg, as traders enlarged their positions, triggered by rising demand in the spot market.     

At the Multi Commodity Exchange platform, crude palm oil December month contract rose by Rs 8.70, or 1.75 per cent to Rs 507.20 per 10 kg, with a trade volume of just one lot.

Similarly, the oil for delivery in November contract gained Rs 7.60, or 1.53 per cent to Rs 503.50 per 10 kg, clocking an open interest of just one lot. 

Traders said a firm trend at global markets and rising demand at domestic markets, influenced crude palm oil futures prices here.