Crude palm oil prices rose by 0.23 per cent to Rs 521.20 per 10 kg in futures trade today as participants built up fresh positions following uptick in demand in the spot market.
Besides, restricted supplies from producing belts and firm trend in the overseas market too fuelled the uptrend.
At Multi Commodity Exchange, crude palm oil for delivery in this month rose by Rs 1.20 or 0.23 per cent to Rs 521.20 per 10 kg in a business turnover of 242 lots.
Similarly, the oil for delivery in August gained Re one, or 0.19 per cent to Rs 508 per 10 kg in 425 lots.
Analysts said fresh positions built up by participants, supported by pick-up in demand in the spot market against restricted supplies from producing belts, mainly led to rise in crude palm oil prices at futures trade.
