Crude palm oil prices rose by Rs 2.60 to Rs 475.50 per 10 kg in futures trade today as speculators indulged in creating fresh positions on expectations of a rise in demand in the spot market.
A firming trend in overseas market also influenced the crude palm oil prices at futures market.
At the Multi Commodity Exchange, August contract for crude palm oil rose by Rs 2.60, or 0.54%, to Rs 475.50 per 10 kg, with a trading volume of 62 lots.
Oil for July delivery moved up by Rs 2.50, or 0.52%, to Rs 476.50 per 10 kg, with a business volume of 62 lots.
The September contract for oil inched up by Rs 2, or 0.42%, to Rs 474.70 per 10 kg, with a trading volume of 15 lots.
Analysts said fresh buying by speculators on hopes of pick-up in spot market demand, mainly led to rise in crude palm oil price at futures market.
