Crude palm oil futures up on global cues
Crude palm oil prices moved up by Rs 3.30 to Rs 523.20 per 10 kg in futures trade today as speculators created fresh positions, supported by a firming global trend.
At the Multi Commodity Exchange, crude palm oil for delivery in April moved up by Rs 3.30, or 0.63%, to Rs 523.20 per 10 kg, with an open interest of a single lot.
The May contract edged up by Rs 3.30, or 0.64%, to Rs 521, with a turnover of two lots.
Analysts attributed the uptrend in crude palm oil futures to fresh buying by speculators in tandem with a firming global trend.
Meanwhile, crude palm oil futures for delivery in June gained 0.6% to $1,119 a metric tonne on the Malaysia Derivatives Exchange.