Crude palm oil futures remain up on firm spot demand
Crude palm oil prices rose by Rs 1.50 to Rs 515 per 10 kg in futures trade today after speculators created fresh positions on expectations of pick-up in spot demand.
A firm trend in the overseas markets also influenced the crude palm oil futures prices here.
On the Multi Commodity exchange, crude palm oil for delivery in April rose by Rs 1.50, or 0.29%, to Rs 515 per kg, with a business volume of 138 lots.
June palm oil surged by Rs 1.30, or 0.25%, to Rs 512 per 10 kg, with an open interest of 42 lots.
The May contract gained Rs 1.20, or 0.23%, to Rs 513.60 per 10 kg, with a business volume of 100 lots.
Analysts attributed the uptrend in crude palm oil futures prices to building of fresh positions by speculators on hopes of pick-up in spot demand.