Crude palm oil futures prices rose by Rs 5.90 to Rs 517.90 per 10 kg today, as speculators created fresh positions, driven by a rise in demand in the spot market for the ongoing marriage season.
At the Multi Commodity Exchange, January crude palm oil rose by Rs 5.90, or 1.15%, to Rs 517.90 per 10 kg, with a business turnover of 161 lots.
The December contract moved up by Rs 5.50, or 1.08%, to Rs 512.80 per 10 kg, with a trade volume of 264 lots.
Market analysts said fresh buying by speculators on the back of firming trend at spot market on pick-up in demand due to marriage season mainly pushed up crude palm oil prices at futures trade.
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