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Crude palm oil futures rise 0.37 pc on spot demand

Press Trust of India  |  New Delhi 

Crude palm prices were trading up by 0.37 per cent to Rs 490.80 per 10 kg in futures trading today as traders built up fresh positions, driven by pick-up in demand at the spot market.

At the Multi Commodity Exchange, crude palm for delivery in July went up by Rs 1.80, or 0.37 per cent, to Rs 490.80 per 10 kg in a business turnover of 23 lots.

Likewise, the for delivery in August traded higher by Rs 1.70, or 0.35 per cent, to Rs 483.70 per 10 kg in 33 lots.

Analysts said, building up of positions by participants on the back of upsurge in demand in the physical market against tight stocks position on restricted supplies from producing regions, mainly led to the rise in crude palm prices at futures trade.

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

First Published: Wed, July 12 2017. 11:07 IST