 "Crude palm oil up 0.6% on spot demand, global cues")
Crude palm oil prices rose further by Rs 3.30 to Rs 518.70 per 10 kg in futures trade today as participants indulged in enlarging positions amid a firming spot demand.
At the Multi Commodity Exchange, crude palm oil for delivery in October rose by Rs 3.30, or 0.64%, to Rs 518.70 per 10 kg, with a business turnover of 274 lots.
The oil for November delivery increased by Rs 3.10, or 0.60%, to Rs 513.50 per 10 kg, with trading volume of 71 lots.
Marketmen said the rise in crude palm oil prices at futures trade to rising domestic demand and a firming global trend where palm oil rose to three-week high on speculation that rains in the US may delay the harvest of soybean crop, crushed to make an alternative oil used in food.
At the Multi Commodity Exchange, crude palm oil for delivery in October rose by Rs 3.30, or 0.64%, to Rs 518.70 per 10 kg, with a business turnover of 274 lots.
The oil for November delivery increased by Rs 3.10, or 0.60%, to Rs 513.50 per 10 kg, with trading volume of 71 lots.
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In Malaysia, Palm oil gained as much as 1% to 2,342 ringgit (USD 732) a tonne on the Malaysia Derivatives Exchange.
Marketmen said the rise in crude palm oil prices at futures trade to rising domestic demand and a firming global trend where palm oil rose to three-week high on speculation that rains in the US may delay the harvest of soybean crop, crushed to make an alternative oil used in food.