Crude palm oil prices rose by Rs 8.30 to Rs 618 per 10 kg in futures trade today as speculators created fresh positions on expectations of pick up in spot market demand amid a firming global trend.
On the Multi Commodity Exchange, the May delivery rose by Rs 8.30, or 1.36%, to Rs 618 per 10 kg, with a trading volume of 376 lots.
In April it moved up by Rs 7.30, or 1.20%, to Rs 614.40 per 10 kg, with a business turnover of 197 lots.
Analysts said fresh buying by speculators on hopes of pick-up in spot market demand led to a rise in crude palm oil prices at the futures market.
Meanwhile, in Malaysia, the June-delivery contract climbed 2.7% to 3,527 ringgit ($1,154) a metric ton on the Malaysia Derivatives Exchange.
