Business Standard

Crude palm oil rises over 2% on spot demand

The June delivery moved up by Rs 10.70 to Rs 574 per 10 kg

Related News

rose by Rs 12 to Rs 580 per 10 kg in futures trade today as speculators created fresh positions amid expectations of pick up in spot demand.

Firming trend in overseas markets also supported the oil prices in futures trade.

On the Multi Commodity Exchange, the July delivery was up by Rs 12, or 2.11%, to Rs 580 per 10 kg, with a trading volume of 892 lots.

The June delivery moved up by Rs 10.70, or 1.89%, to Rs 574 per 10 kg, with a business turnover of 263 lots.

Meanwhile, the September-delivery palm oil advanced by 3.6% to 3,059 ringgit ($958) a tonne on the Malaysia Derivatives Exchange.

Analysts said fresh buying by speculators on hopes of pick-up in spot market demand and firming trend overseas led to a rise in crude palm oil prices at futures market.

Read more on:   
|
|

Read More

Commodities up most in six months on Europe optimism

Commodities jumped the most in almost six months on optimism that Europe's debt crisis may be contained after leaders agreed to ease repayment rules ...

Quick Links

 

Market News

Snowman: Sound prospects, pricing not so attractive

Snowman Logistics, the cold chain subsidiary of listed parent Gateway Distriparks and country's largest player in the segment, is expanding ...

Govt okays share transfers before new Companies Act

Asks companies to carry out registrations even if the transfer was executed under the old regime

Stronger US economy pulls gold prices down

Outcome after minutes of US Fed meeting on Wednesday indicated improvement in economy, calls for early interest rate rise

Polyester yarn makers' margins under pressure

Raw material prices, especially in the domestic market, have been rising

UP sugar mills start laying off workers

66 mills have given suspension notices so far. There are 95 private and 23 cooperative sugar mills in Uttar Pradesh

Back to Top