Continuing its rising streak for the third day, crude palm oil prices traded higher by 0.35 per cent to Rs 571 per 10 kg in futures market today as speculators engaged in enlarging their positions, tracking a firm trend at spot market on rising demand. At the Multi Commodity Exchange, crude palm oil for delivery in November went up by Rs 2, or 0.35 per cent to Rs 571 per 10 kg in business turnover of 376 lots. Likewise, the oil for delivery in December edged up by Rs 1.50, or 0.26 per cent to Rs 573.70 per 10 kg in 186 lots. Analysts said widening of positions by participants on the back of surging demand in the physical market against restricted supplies from producing regions mainly kept crude palm oil prices higher at futures trade.
Crude palm oil futures extend gain, up 0.35% on firm demand
Press Trust of India |