Buoyed by a firming global trend and increased domestic demand, crude palm oil prices rose by Rs 5.10 to Rs 478 per kg in futures trade today.
At the Multi Commodity Exchange, August contract for crude palm oil rose by Rs 5.10, or 1.08%, to Rs 478, with a business turnover of 112 lots.
Likewise, the June contract inched up by Rs 2.20, or 0.46%, to Rs 475.70, with an open interest of in 36 lots.
Market analysts said apart from a firming trend in overseas market, pick-up in spot market demand mainly helped crude palm oil prices to trade higher at futures market.
Meanwhile, September contract for palm oil gained 1.4% to $1,022 a tonne on the Malaysia Derivatives Exchange.
