Crude palm oil price rose by Rs 7.40, or 1.89 per cent, to Rs 399.90 per 10 kg in futures trade today, as speculators created fresh positions on expectations of a rise in demand in the spot market.
At Multi Commodity Exchange counter, crude palm oil for July contract rose by Rs 7.40, or 1.89 per cent, to Rs 399.90 per 10 kg, with a trading volume of 26 lots, while August contract gained by Rs 6.80, or 1.75 per cent, to Rs 396.30 per 10 kg, with a business volume of 228 lots.
The oil for September delivery went up by Rs six, or 1.55 per cent, to Rs 391.90 per 10 kg, with an open interest of 157 lots.
Analysts said fresh buying by speculators on hopes of pick up in demand in the spot market ahead of festive season mainly led to a rise in crude palm oil at futures market.
