Crude palm oil price rose by Rs four to Rs 368 in futures trade today, as speculators indulged in creating fresh positions on expectations of a rise in demand in the spot market.
Firming trend in overseas markets also influenced the crude palm oil prices in the futures market.
At the Multi Commodity Exchange, crude palm oil for August month contract rose by Rs four or 1.10 per cent to Rs 368 per 10 kg with trading volume of 158 lots, while September month contract gained by Rs 3.80 or 1.05 per cent to Rs 364.50 per 10 kg in business volume of 53 lots.
The oil for July delivery went up by 2.70 or 0.74 per cent to Rs 370 per 10 kg in 159 lots.
Analysts said fresh buying by speculators, on hopes of pick up in demand in the spot market due to marriage season, mainly led to rise in crude palm oil at futures market.
