Crude palm oil futures remain up, gain 0.40% on strong demand

Crude palm oil prices rose further by 0.40 per cent to Rs 533.20 per 10 kg in futures trade today as participants engaged in enlarging positions amid strong demand in the spot market.

At the Multi Commodity Exchange, crude palm oil for delivery in November edged up by Rs 2.10, or 0.40 per cent to Rs 533.20 per 10 kg in business turnover of 118 lots.

Similarly, the oil for delivery in October traded higher by Rs 2.10, or 0.39 per cent to Rs 537.10 per 10 kg in 101 lots.

Analysts said expanding of positions by traders following pick-up in demand in the physical market against tight stocks position on restricted supplies from producing regions mainly kept crude palm oil prices higher at futures trade.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)