Crude palm oil prices were trading up by 0.51 per cent to Rs 495.70 per 10 kg in futures trade today as traders created fresh positions, supported by pick-up in demand at the spot market.
Moreover, tight stocks position on fall in supplies from producing belts too fuelled the uptrend.
At the Multi Commodity Exchange, crude palm oil for delivery in June rose Rs 2.50, or 0.51 per cent, to Rs 495.70 per 10 kg, in a business turnover of 346 lots.
Similarly, the oil for delivery this month went up by 0.60 paise, or 0.11 per cent, to Rs 512.50 per 10 kg in 94 lots.
Analysts said building up of positions by participants driven by pick up in demand in the spot market against tight stocks position on restricted supplies from producing regions mainly kept crude palm oil prices higher at futures trade.
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