Crude palm oil futures rose by Rs 8 to Rs 418 per 10 kg as speculators created fresh positions on expectations of rise in demand due to festive season.
At the Multi Commodity Exchange, crude palm oil for September month contract rose by Rs 8 or 1.95 per cent to Rs 418 per 10 kg with trading volume of 148 lots.
Similarly, the oil for delivery in current month contract moved up by Rs 7.90 or 1.93 per cent to Rs 418 per 10 kg with business volume of 260 lots.
The October month contract soared by Rs 7.70 or 1.89 per cent to Rs 415 per 10 kg in trading volume of 36 lots.
Analysts said fresh buying by speculators on hopes of pick up in demand in the spot market, mainly led to rise in crude palm oil at futures market.
Firming trend in overseas market also influenced the crude palm oil prices at futures market.
