Amid pick up in domestic demand and restricted supplies from producing belts, crude palm oil prices edged up by 1.19 per cent to Rs 537 per 10 kg in futures trading today as traders created fresh positions.
In futures trading at the Multi Commodity Exchange, crude palm oil for delivery in far-month June rose by Rs 6.30, or 1.19 per cent, to Rs 537 per 10 kg, in a business turnover of 118 lots.
Likewise, the oil for delivery in May traded higher by Rs 5.80, or 1.08 per cent, to Rs 451.50 per 10 kg in 302 lots.
Analysts said speculators building up of positions, driven by pick up in demand in the spot market against restricted supplies from producing regions mainly led to the rise in crude palm oil prices at futures trade.
