Crude palm oil prices gained by Rs 0.80, or 0.22 per cent, to Rs 369 per 10 kg in futures market today, as traders enlarged their positions on a firming global trend.
Trading sentiment turned better after palm oil rose from the lowest-level in more than three months in global markets, as crude oil and soybeans advanced, lifting prospects for a better demand.
At the Multi Commodity Exchange, crude palm oil May contract gained Rs 0.80, or 0.22 per cent to Rs 369 per 10 kg, with an open interest of 1,865 lots
Similarly, the oil for delivery in June contract traded higher by Rs 0.70, or 0.19 per cent, to Rs 369 per 10 kg, with a business turnover of 2,000 lots.
Analysts said increased buying by traders at spot markets and reports of a firming trend in overseas market also led to a rise in crude palm oil prices at futures trade.
Meanwhile, palm oil for August-delivery rose 0.8 per cent, to $751 a metric tonne on the Malaysia Derivatives Exchange.
