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Crude palm oil prices recovered by 0.70% to Rs 558 per 10 kg in futures trading today as speculators created fresh positions at existing lower levels, supported by rising demand in the spot market.
At the Multi Commodity Exchange, crude palm oil for delivery in September rebounded by Rs 3.90, or 0.70% to Rs 558 per 10 kg in business turnover of 182 lots.
Similarly, the oil for delivery in October edged up by Rs 3.70 or 0.67% to Rs 553 per 10 kg in 84 lots.
Market analysts said fresh positions built-up by speculators driven by a pick up in demand in the spot market mainly led to rise in crude palm oil prices at futures trade.
