Crude palm oil prices rose further by 5.20 to Rs 508.70 per 10 kg in futures trade today as speculators created fresh positions on the back of a rise in demand in the spot market amid low stocks.
Restricted arrivals from overseas markets also put pressure on the crude oil prices in futures trade.
On the Multi Commodity exchange, crude palm oil for delivery in July rose by Rs 5.20, or 1.01% to Rs 508.70 per 10 kg, with a business volume of three lots.
The oil for delivery in June traded higher by Rs 4.40, or 0.85% to Rs 510.60 per 10 kg, with an open interest of 11 lots.
Similarly, the oil for delivery in May contract edged up by Rs 4.20, or 0.81% to Rs 512.80 per 10 kg, with a business turnover of 76 lots.
Analysts said fresh buying by speculators on the back of pick-up in demand in the spot market mainly pushed up crude palm oil futures prices.
