Crude palm oil prices moved up by Rs 2.20 to Rs 511 per 10 kg in futures trade today as speculators enlarged their positions, taking positive cues from global market.
At the Multi Commodity Exchange, crude palm oil for delivery in June rose by Rs 2.20, or 0.43%, to Rs 511 per 10 kg, with an open interest of a single lot.
Similarly, the oil for delivery in April edged up marginally by 50 paise, or 0.10%, to Rs 512.20 per 10 kg, with a business turnover of two lots.
Analysts attributed the rise in crude palm oil prices to a firming global trend, triggered buying by speculators at futures trade here.
Meanwhile, crude palm oil futures for delivery in June rose by 1.7% to $1,098 a metric tonne in Kuala Lumpur.
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