Crude palm oil prices edged up marginally by Rs 5 to Rs 548.20 per 10 kg in futures trade today as speculators created fresh positions on expectations of pick-up in spot market demand.
A firming trend in the overseas markets also influenced crude palm oil prices at futures trade here.
On the MCX, crude palm oil for June delivery rose by Rs 5, or 0.92%, to Rs 548.20 per kg, with a trading volume of 93 lots.
The July contract moved up by Rs 4.70, or 0.86%, to Rs 547.50 per 10 kg, with a business turnover of 141 lots.
Analysts said fresh buying by speculators on hopes of a pick-up in spot market demand and a firming trend overseas mainly led to a rise in crude palm oil prices at futures market.
Meanwhile, in Malaysia, the August-delivery contract advanced by as much as 1.90% to 3,028 ringgit ($957) a tonne on the Malaysia Derivatives Exchange.
