Crude palm oil futures up on global cues
Crude palm oil prices rose by Rs 1.80 to Rs 528.20 per 10 kg in futures trading today as speculators enlarged their positions on the back of a firming trend in overseas market.
At the Multi Commodity Exchange, crude palm oil for delivery in August rose by Rs 1.80, or 0.34% to Rs 528.20 per 10 kg, with a business turnover of eight lots.
The June contract traded higher by paise 30, or 0.06% to Rs 527 per 10 kg in 53 lots.
Analysts said besides a firming trend in overseas markets, pick-up in spot market demand also attributed to the rise in crude palm oil futures prices.
Meanwhile, palm oil for August-delivery advanced 0.4% to $1,115 a metric tonne on the Malaysia Derivatives Exchange.