Amid rising domestic demand and restricted supplies from producing regions, crude palm oil prices were up by 0.50 per cent to Rs 503.60 per 10 kg in futures trade today as speculators built up fresh positions. At the Multi Commodity Exchange, crude palm oil for delivery in May rose Rs 2.50, or 0.50 per cent to Rs 503.60 per 10 kg in a business turnover of 76 lots. Likewise, the oil for delivery in June traded higher by Rs 1.70, or 0.35 per cent to Rs 493.20 per 10 kg in 48 lots. Analysts said fresh positions created by participants on the back of strong demand in the spot market against tight stocks position on fall in arrivals from producing belts, mainly led to the rise in crude palm oil prices at futures trade.
Crude palm oil futures gain 0.50 pc on rising demand
Press Trust of India |