Crude palm oil prices edged higher by 0.61 per cent to Rs 489.30 per 10 kg in futures market today as participants widened positions, tracking a firm trend at spot market on rising demand from consuming industries.
Besides, restricted supplies from producing belts fuelled the uptrend.
At the Multi Commodity Exchange, crude palm oil for March delivery rose by Rs 3, or 0.61 per cent, to Rs 489.30 per 10 kg, in a business turnover of 142 lots.
Also, the oil for delivery in February was up by Rs 1.70, or 0.35 per cent, to Rs 481.80 per 10 kg in 70 lots.
Market analysts said fresh positions built up by speculators following rising demand in the spot market, mainly influenced crude palm oil prices at futures trade.
