Crude palm oil advanced by 0.55 per cent to Rs 493.40 per 10 kg in futures market today as participants engaged in enlarging their positions, tracking a firm trend at spot market on rising demand.
At the Multi Commodity Exchange, crude palm oil for delivery in far-month September moved up by Rs 2.70 or 0.55 per cent to Rs 493.40 per 10 kg in business turnover of 79 lots.
Likewise, the oil for delivery in August contracts edged up by Rs 2.30 or 0.46 per cent to Rs 507 per 10 kg in 312 lots.
Analysts said raising of positions by traders on the back of surging demand in the spot market against restricted supplies from producing regions mainly kept crude palm oil prices higher at futures trade.