Crude palm oil futures gain 1.15%

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.