Crude palm oil gains 0.29% on global cues
Tracking a firming global trend, crude palm oil prices gained 0.29% to Rs 551.20 per 10 kg in futures trade today.
At the Multi Commodity Exchange, the March contract for crude palm oil gained Rs 1.60, or 0.29%, to Rs 551.20 per 10 kg, with a business turnover of 345 lots.
The February contract, moved up by Re 1, or 0.19%, to Rs 539 per 10 kg, with a business turnover of 63 lots.
Market analysts said fresh positions created by speculators following rising spot demand for marriage season and a firming global trend mainly influenced crude palm oil prices at futures trade.
Meanwhile, palm oil the May contract climbed 0.5% to $1,086 a tonne on the Malaysia Derivatives Exchange, the highest level since June 15.