Crude palm oil was trading marginally higher by Rs 2.40 to Rs 406.60 per 10 kg in futures market today, as speculators indulged in creating fresh positions on expectations of a rise in spot market demand.
At the Multi Commodity Exchange, crude palm oil for December month contract rose by Rs 2.40 or 0.59 per cent to Rs 406.60 per 10 kg, with trading volume of 29 lots while October month contract gained by Rs 2.30 or 0.56 per cent to Rs 407 per 10 kg in 112 lots.
Similarly, the oil for delivery in November month contract moved up by Rs 2.10 or 0.51 per cent to Rs 406 per 10 kg, with business volume of 145 lots.
Analysts said fresh buying by speculators, anticipating rise in spot market demand led the to rise in crude palm oil prices at futures market.
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