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Uptick in demand lifts crude palm oil futures by 1.08%

Press Trust of India  |  New Delhi 

Amid pick up in domestic demand and restricted supplies from producing regions, crude palm prices were up 1.08 per cent to Rs 554.50 per 10 kg in futures trade today as speculators enlarged positions.

At the Multi Commodity Exchange, crude palm for December moved up by Rs 5.90, or 1.08 per cent, to Rs 554.50 per 10 kg, in a business turnover of 57 lots.

Similarly, the for delivery in November went up by Rs 4.40, or 0.80 per cent, to Rs 552.30 per 10 kg in 13 lots.

Analysts said widening of positions by participants amid upsurge in demand in the spot market against restricted supplies from producing belts mainly attributed the rise in crude palm oil prices at futures trade.

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

First Published: Mon, November 28 2016. 11:42 IST