 "Crude palm oil up 0.8% on spot demand")
Crude palm oil prices edged up by Rs 4.30 to Rs 517.50 per 10 kg in futures trade today as speculators created fresh positions amid expectations of rise in spot demand.
A firming trend in overseas markets also influenced the crude palm oil futures prices.
At the Multi Commodity Exchange, crude palm oil for October delivery rose by Rs 4.30, or 0.83%, to Rs 517.50 per 10 kg, with a trading volume of 108 lots.
Analysts said fresh positions built-up by speculators on hopes of pick up in spot demand in view of ongoing festive season, mainly led to a rise in crude palm oil at futures market.
In Malaysia, palm oil advanced by 0.50% to $727 a tonne.
A firming trend in overseas markets also influenced the crude palm oil futures prices.
At the Multi Commodity Exchange, crude palm oil for October delivery rose by Rs 4.30, or 0.83%, to Rs 517.50 per 10 kg, with a trading volume of 108 lots.
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Similarly, the oil for delivery in November traded higher by Rs 4.10, or 0.80%, to Rs 510.70 per 10 kg, with a business volume of 34 lots.
Analysts said fresh positions built-up by speculators on hopes of pick up in spot demand in view of ongoing festive season, mainly led to a rise in crude palm oil at futures market.
In Malaysia, palm oil advanced by 0.50% to $727 a tonne.
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