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Crude palm oil rose by 4.20% to Rs 585.10 per 10 kg in futures trade today as traders and speculators indulged in expanding positions, driven by rising demand in spot market.
At the Multi Commodity Exchange, crude palm oil for delivery in November rose by Rs 4.20, or 0.72%, to Rs 585.10 per 10 kg, with a business turnover of 316 lots.
The oil for December delivery increased by Rs 1.70, or 0.29%, to Rs 583 per 10 kg, with trading volume of 331 lots.
Marketmen attributed the rise in crude palm oil prices at futures trade to rising spot demand amid firming trend in overseas markets.
In Malaysia, palm oil advanced for a third day to the highest level in more than a week by rising 0.70% to 816 dollar a metric ton.
