Tracking a firming trend in the overseas market, crude palm oil futures prices rose by Rs 17.70 to Rs 575.60 per 10 kg today as speculators enlarged their positions.
Rising spot market demand also supported the upside.
At the MCX, crude palm oil for delivery in September shot up by Rs 17.70, or 3.17 per, cent to Rs 575.60 per 10 kg, with a business turnover of 100 lots.
The June contract traded higher by Rs 12.90, or 2.34%, to Rs 565.10 per 10 kg, with a business turnover of 594 lots.
Market analysts said besides pick up in spot market demand for the ongoing wedding season, a firming global trend led to the increase in crude palm oil prices.
Meanwhile, palm oil for the September delivery advanced by 3.6% to $966 a tonne on the Malaysia Derivatives Exchange, the biggest intra-day gain since November 2010.
