Spot demand lifts crude palm oil futures 0.54 pc
Crude palm oil prices were trading up by 0.54 per cent to Rs 540.10 per kg in futures trading today as speculators built up fresh positions, driven by pick up in demand in the spot market.
At Multi Commodity Exchange, crude palm oil for delivery in October rose by Rs 2.90, or 0.54 per cent to Rs 540.10 per 10 kg in business turnover of 157 lots.
Similarly, the oil for delivery in November was trading higher by a similar margin to Rs 536.60 per 10 kg in 59 lots.
Analysts attributed the rise in crude palm oil futures to fresh positions created by traders due to uptick in demand in the spot market against restricted supplies from producing belts.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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