Crude palm oil rises on spot demand, global cues

March crude palm oil rose by Rs 2.40, or 0.52% to Rs 462.60 per 10 kg in business turnover of 709 lots

Press Trust of India New Delhi
Last Updated : Feb 27 2013 | 2:29 PM IST
Crude palm oil prices rose by Rs 2.40 to Rs 462.60 per 10 kg in futures trading today as speculators created fresh positions, supported by a rise in demand in the spot market.     

A firming trend in the overseas markets also influenced the crude palm oil futures prices.

At the Multi Commodity Exchange, March crude palm oil rose by Rs 2.40, or 0.52% to Rs 462.60 per 10 kg in business turnover of 709 lots.

The February delivery traded higher by 60 paise, or 0.13% to Rs 453.50 per 10 kg in 125 lots.     

Market analysts said fresh positions created by speculators on pick up in demand in the spot market amid a firm global trend mainly led to rise in crude palm oil prices at futures trade.

Meanwhile, palm oil for the contract for May delivery advanced 0.8% to $787 a tonne on the Malaysia Derivatives Exchange.
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First Published: Feb 27 2013 | 2:26 PM IST

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