Amid pick up in demand at domestic spot market and restricted supplies from producing regions, crude palm oil prices rose by 0.57 per cent to Rs 514.20 per 10 kg in futures trade today as traders created fresh positions.
At the Multi Commodity Exchange, crude palm oil for delivery in far-month September moved up by Rs 2.90, or 0.57 per cent to Rs 514.20 per 10 kg in business turnover of 63 lots.
Similarly, the oil for delivery in August contracts went up by Rs 1.90, or 0.36 per cent to Rs 528.50 per 10 kg in 69 lots.
Analysts said fresh positions built up by participants due to pick up in demand in the spot market against tight stocks position on restricted supplies from producing belts led to rise in crude palm oil prices at futures trade.
