Crude palm oil prices rose further by Rs 4.60 to Rs 541 per 10 kg today, as speculators created fresh positions following a firm trend in spot markets for the ongoing marriage season.
Reports of a firming trend in overseas markets also influenced the crude palm oil futures prices.
On the Multi Commodity exchange, crude palm oil for delivery in December rose by Rs 4.60 or 0.85 per cent to Rs 541 per kg, with trading volume of 81 lots.
Similarly, the oil for delivery in February month rose by Rs four or 0.71 per cent to Rs 560 per 10 kg in 287 lots, while delivery in January month went up by Rs 3.60 or 0.65 per cent to Rs 374 per 10 kg in business volume of 374 lots.
Analysts said fresh buying by speculators on hopes of pick up in demand in the spot market due to the marriage season led to the rise in crude palm oil futures prices.
