Crude palm oil prices rose by 0.54 per cent to Rs 516.80 per 10 kg in futures trading today as speculators enlarged positions on the back of rising demand in the spot market.
Moreover, a tight stocks in the market due to fall in supplies from producing belts supported the upmove.
At the Multi Commodity Exchange, crude palm oil for delivery in September went up by Rs 2.80, or 0.54 per cent to Rs 516.80 per 10 kg in business turnover of 95 lots.
Similarly, the oil for delivery in August traded higher by Rs 2.50, or 0.48 per cent to Rs 518.50 per 10 kg in 31 lots.
Marketmen said widening of positions by traders due to pick up in demand in the spot market against restricted supplies from producing belts, 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.)