Tracking a firming global trend, crude palm oil prices rose by 0.08% to Rs 529.90 per 10 kg in futures trade on pick up in spot demand.
At the Multi Commodity Exchange, crude palm oil for delivery in May traded higher by 40 paise, or 0.08%, to Rs 529.90 per 10 kg, with a business turnover of 45 lots.
Similarly, the oil for delivery in July contract edged higher by 10 paise, or 0.02%, to Rs 526.80 per 10 kg, with a trade volume of 179 lots.
Market analysts said besides firming trend in overseas market, pick up in demand in the spot market mainly led to rise in crude palm oil prices at futures trade.
Meanwhile, palm oil for August contract increased 0.9% to $1,111 per tonne on the Malaysia Derivatives Exchange, the highest level since April 11.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app