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Crude palm oil futures rise by 0.59 per cent

Press Trust of India  |  New Delhi 

Crude palm prices were up by 0.59 per cent to Rs 519.90 per 10 kg in futures trade today as traders created fresh positions, supported by pick-up in demand at the spot market.

Besides, a firming trend in overseas markets fuelled the uptrend.

At the Multi Commodity Exchange, crude palm for delivery this month rose by Rs 3.10, or 0.59 per cent, to Rs 519.90 per 10 kg in a business turnover of 36 lots.

Similarly, the for delivery in May went up by Rs 2.30, or 0.47 per cent, to Rs 492.50 per 10 kg in 40 lots.

Analysts said, widening of positions by participants driven by pick-up in demand in the spot market against tight stocks position on restricted supplies from producing regions mainly kept crude palm 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: Mon, April 17 2017. 12:42 IST