 "Crude palm oil up 0.7% on spot demand")
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Crude palm oil rose by Rs 4.30 to Rs 568.20 per 10 kg in futures trade today as speculators enlarged positions on strong spot demand.
Besides, a firming trend in Asian region on speculation that output in Malaysia, the world's second-largest supplier, will drop as rains disrupt harvesting also supported the trend.
At the Multi Commodity Exchange, crude palm oil prices for delivery in January rose by Rs 4.30, or 0.76%, to Rs 568.20 per 10 kg with a trading volume of 86 lots.
Analysts said firming trends in both global and spot markets supported the upside in crude palm oil futures prices here.
Meanwhile, palm oil prices rose 1% to $823 per tonne on the Malaysia Derivatives Exchange.
Besides, a firming trend in Asian region on speculation that output in Malaysia, the world's second-largest supplier, will drop as rains disrupt harvesting also supported the trend.
At the Multi Commodity Exchange, crude palm oil prices for delivery in January rose by Rs 4.30, or 0.76%, to Rs 568.20 per 10 kg with a trading volume of 86 lots.
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Likewise, oil price for delivery in December rose by Rs 3.40, or 0.68%, to Rs 561.90 per 10 kg, with a business volume of 74 lots.
Analysts said firming trends in both global and spot markets supported the upside in crude palm oil futures prices here.
Meanwhile, palm oil prices rose 1% to $823 per tonne on the Malaysia Derivatives Exchange.
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