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Crude palm oil futures extend gains, up 0.22% on firm demand

Press Trust of India  |  New Delhi 

Amid rising domestic demand and restricted supplies from producing regions, crude palm prices were up further by 0.22 per cent to Rs 502 per 10 kg in futures trade today as speculators enlarged positions.

At the Multi Commodity Exchange, crude palm for delivery in June edged up by Rs 1.10, or 0.22 per cent to Rs 502 per 10 kg in business turnover of 78 lots.

On similar lines, the for delivery in May contracts traded higher by 80 paise, or 0.16 per cent to Rs 513.90 per 10 kg in 48 lots.

Analysts said widening of positions by participants, tracking a firm trend at spot market on strong demand against tight stocks position on fall in arrivals from producing belts, mainly kept crude palm oil prices higher at futures trade.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, May 19 2017. 11:42 IST