Tracking a firm global trend, crude palm oil prices were up by 0.67 per cent at Rs 558.50 per 10 kg in futures trade today as traders created fresh positions supported by pick up in demand at the spot market.
At the Multi Commodity Exchange, crude palm oil for delivery in January next year rose by Rs 3.70, or 0.67 per cent, to Rs 558.50 per 10 kg, in a business turnover of 52 lots.
Similarly, the oil for delivery this month was trading higher by Rs 3.30, or 0.59 per cent, to Rs 558.30 per 10 kg in 167 lots.
Analysts said the rise in crude palm oil prices was mostly due to building up of positions by speculators, driven by a firming trend in the global market.
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