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Continuing its rising streak for the fourth straight session crude palm oil prices rose further 0.58% to Rs 523.20 per 10 kg in futures trade today as speculators engaged in enlarging positions following rising demand in the spot market.
Besides, restricted supplies from producing regions also supported the upside.
At the Multi Commodity Exchange crude palm oil for delivery in June gained Rs 3, or 0.58%, to Rs 523.20 per 10 kg in business turnover of 42 lots.
The oil for delivery in July contracts traded higher by the same margin to Rs 521.20 per 10 kg in 62 lots.
Analysts said besides rising demand in the spot market, tight supplies from producing regions, mainly led to the rise in crude palm oil prices in futures trade.
