Crude palm oil prices gained Rs 3.20 to Rs 386.50 per 10 kg in futures market trade today, led by increased buying by traders amid firming global trend.
At the Multi Commodity Exchange counter, crude palm oil for July month rose by Rs 3.20 or 0.83 per cent to Rs 386.50 per 10 kg with an open interest of 1,048 lots.
Similarly, the oil for delivery in August month traded higher by Rs 2.80 or 0.74 per cent to Rs 382.80 per 10 kg in 1,805 lots.
Analysts said increased buying by traders on hopes of pick up in spot market demand for the coming festival season pushed up crude palm oil at futures market. Besides, firm overseas markets trend also influenced the trading sentiment.
Palm oil futures for October-delivery rose 1.6 per cent to $775 a metric tonne on the Malaysia Derivatives Exchange.
