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Crude palm oil futures up 0.95 pc on spot demand

Press Trust of India  |  New Delhi 

Tracking a firm global trend, crude palm oil prices were up by 0.95 per cent to Rs 518 per 10 kg in futures trade today as traders created fresh positions supported by pick-up in demand in the spot market coupled with restricted supplies.

At the Multi Commodity Exchange, crude palm oil for delivery this month rose by Rs 4.90, or 0.95 per cent, to Rs 518 per 10 kg in a business turnover of 98 lots.

Similarly, the oil for delivery in November was trading higher by Rs 3.70, or 0.75 per cent, to Rs 496.70 per 10 kg in 84 lots.

Analysts said the rise in crude palm oil prices was mostly attributed to building-up of positions by speculators, driven by a firming trend in the global market.

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

First Published: Fri, October 14 2016. 11:57 IST