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Amid pick up in demand and restricted arrivals from producing regions, crude palm oil prices traded higher by 0.55 per cent to Rs 531.50 per 10 kg in futures trade today as speculators created fresh positions.
At the Multi Commodity Exchange, crude palm oil for delivery in July contracts were up by Rs 2.90, or 0.55 per cent, to Rs 531.50 per kg in business turnover of 275 lots.
Similarly, the oil for delivery in August gained Rs 2.40, or 0.46 per cent, to Rs 526 per 10 kg in 589 lots.
Analysts said the rise in crude palm oil prices in futures trade was mainly supported by rising demand in the spot market against restricted arrivals from producing belts.
