Robust demand lifts crude palm oil futures by 0.56%

Crude palm oil prices rebounded by 0.56 per cent to Rs 542.60 per 10 kg in futures trade today as speculators enlarged positions, taking positive cues from spot market on uptick in demand.

At the Multi Commodity Exchange, crude palm oil for delivery in October rose by Rs 3, or 0.56 per cent to Rs 542.60 per 10 kg in a business turnover of 179 lots.

Likewise, the oil for delivery in September contracts edged up by Rs 2.10, or 0.39 per cent to Rs 545.60 per 10 kg in 44 lots.

Analysts said expanding of positions by participants following pick-up in demand at the spot market against restricted supplies from producing regions, mainly led to rise in crude palm oil prices at futures trade.

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