Crude palm oil rebounds on spot demand
Fresh buying by traders at existing lower levels, driven by a rise in demand in the spot market mainly helped crude palm oil prices to recover at futures trade
Crude palm oil rebounded by Rs 5 to Rs 413 per 10 kg in futures trading today on emergence of buying by traders at existing lower levels, driven by a rise in demand in the spot market.
At the Multi Commodity Exchange, the January contract rebounded by Rs 5, or 1.23% to Rs 413 per 10 kg in business turnover of 1,033 lots.
The December contract gained Rs 3.70, or 0.92% to Rs 405.50 per 10 kg in 754 lots.
Analysts said fresh buying by traders at existing lower levels, driven by a rise in demand in the spot market mainly helped crude palm oil prices to recover at futures trade.