Amid pick up in domestic demand at the spot market, restricted supplies from producing belts, crude palm oil prices edged higher by 0.30 per cent to Rs 500.90 per 10 kg in futures market today as speculators created fresh positions.
At the Multi Commodity Exchange, crude palm oil for delivery in August edged up by Rs 1.50, or 0.30 per cent, to Rs 500.90 per 10 kg, in a business turnover of 87 lots.
Likewise, the oil for delivery in September was trading higher by Rs 1.40, or 0.28 per cent, to Rs 502.20 per 10 kg in 54 lots.
Analysts said fresh positions built up by participants due to pick up in demand in the physical markets, mainly led to the rise in crude palm oil prices at futures trade.
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