Crude palm oil futures remain up on rising demand

Crude palm oil prices advanced 0.29 per cent to Rs 514 per 10 kg in futures trading today as speculators built up positions following a firm trend at spot markets.

At the Multi Commodity Exchange, crude palm oil for delivery in September rose by Rs 1.50, or 0.29 per cent to Rs 513.50 per 10 kg in business turnover of 132 lots.

Similarly, the oil for delivery in August edged up by 10 paise, or 0.02 per cent to Rs 517.50 per 10 kg in 35 lots.

Market analysts said widening of positions by traders on the back of rising demand in the spot market 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.)