Business Standard

Crude palm oil up 1.3% on rising demand

Prices went up as speculators created fresh positions

Press Trust of India New Delhi
Crude palm oil futures for March rose by Rs 5.80, or 1.26%, to Rs 464.40 per kg in 1,026 lots.

On the Multi Commodity Exchange (MCX), the April contract moved up by Rs 5.50, or 1.18%, to Rs 469.70 per 10 kg in 739 lots.

Prices went up as speculators created fresh positions on expectations of a rise in spot market demand.

Firming overseas market tredns due to recovering global economy that improved demand for the oil also influenced the uptrend.

On the Malaysia Derivatives Exchange (MDEX), palm oil climbed 0.50% to $774 a tonne.

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First Published: Mar 06 2013 | 2:19 PM IST

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