Crude palm oil prices rose by 0.79 per cent at Rs 586 per 10 kgs in futures trade today as traders created fresh positions, supported by pick-up in demand at the spot market amid firm global cues. Besides, increase in base import prices and firm Malaysia futures also supported the upward movement in price. At the Multi Commodity Exchange, crude palm oil for delivery in March contract rose by Rs 4.60, or 0.79 per cent, to Rs 586 per 10 kgs, in a business turnover of 1,104 lots. Similarly, the oil for this month contract was trading higher by Rs 3.30, or 0.57 per cent, to Rs 579.90 per 10 kgs in 637 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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