Tracking a firm global trend, crude palm oil prices were up by 1.03 per cent to Rs 506.10 per 10 kg in futures trade today as traders created fresh positions supported by pickup in demand in the spot market.
Further, restricted supplies from producing regions also fuelled the uptrend.
At the Multi Commodity Exchange, crude palm oil for delivery in August rose by Rs 5.20 or 1.03 per cent to Rs 506.10 per 10 kg in business turnover of 941 lots.
Similarly, the oil for delivery in July contracts traded higher by Rs 4.90 or 0.95 per cent to Rs 518.80 per 10 kg in 280 lots.
Analysts said the rise in crude palm oil prices was mostly attributed to building-up of positions by speculators, driven by a firming trend in the global market.
