Crude palm oil prices rose by Rs 4.70 to Rs 614 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 April delivery rose by Rs 4.70, or 0.77%, to Rs 614 per kg, with a trading volume of 157 lots.
The May contract increased by Rs 2.60, or 0.42%, to Rs 615 per 10 kg, with a business turnover of 205 lots.
Analysts said fresh buying by speculators on hopes of a pick-up in spot market demand mainly led to a rise in crude palm oil prices at futures market.
Meanwhile, the palm oil in Malaysia climbed 0.90% to $1,170 a tonne.
