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Crude palm oil prices edged higher by 0.38% to Rs 423.70 per 10 kg in futures trading today as speculators created fresh positions, driven by rising demand in the spot market.
At the Multi Commodity Exchange, crude palm oil for delivery in December month gained Rs 1.60, or 0.38%, to Rs 423.70 per 10 kg in business turnover of 89 lots.
Similarly, the oil for delivery in January next year edged up by Rs 1.40, or 0.33%, to Rs 428.90 per 10 kg in 105 lots.
Analysts said fresh positions built-up by speculators due to pick-up in demand in the spot market against tight supplies from producing regions, mainly helped crude palm oil prices to trade higher at futures trade.
