Crude palm oil futures prices recovered by Rs 3 to Rs 439.10 per 10 kg today, as speculators created fresh positions on hopes of a rise in demand in the spot market on the back of festive and marriage season.
At the Multi Commodity Exchange platform, crude palm oil for delivery in November gained Rs 3, or 0.69 per cent, to Rs 439.10 per 10 kg, with a business turnover of two lots.
In a similar fashion, the metal for delivery in October traded higher by Rs 2.30, or 0.53 per cent, to Rs 437.70 per 10 kg, clocking in an open interest of just one lot.
Analysts said hopes of pick up in demand at spot markets in view of festivals and marriage season, mainly led to the rise in crude palm oil futures prices.
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