Crude palm oil futures remain up, add 0.28% on rising demand
Rising for the second day, crude palm oil prices rose further by 0.28 per cent to Rs 506.70 per 10 kg in futures trading today as participants engaged in building up positions, tracking a firm trend at spot market on surging demand.
At the Multi Commodity Exchange, crude palm oil for delivery in September advanced by Rs 1.40, or 0.28 per cent, to Rs 506.70 per 10 kg, in a business turnover of 26 lots.
Similarly, the oil for delivery in August was trading higher by Rs 1.30, or 0.26 per cent, to Rs 505.30 per 10 kg in 85 lots.
Analysts said widening of positions by traders, driven by rising demand in the physical markets against restricted supplies from growing 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.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.