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Crude palm oil prices rose by 0.15% to Rs 472.70 per 10 kg in futures trading today as speculators created fresh positions tracking positive global cues.
At the Multi Commodity Exchange (MCX), crude palm oil for delivery in June inched up by 70 paise, or 0.15% to Rs 472.70 per 10 kg in 108 lots.
The May contract edged up by 30 paise, or 0.06% to Rs 471.70 per 10 kg in 48 lots.
Market analysts attributed the rise in crude palm oil futures to firm global trend on speculations that an increase in demand before the Muslim fasting month of Ramadan may cut stockpiles in Malaysia, the second-largest producer.
Meanwhile, palm oil for the contract for August delivery rose 1% to 781 dollar a metric tonne,the highest since April 12, on the Malaysia Derivatives Exchange (MDEX).
