Crude palm oil rose by Rs 3.30, to Rs 411.30 per 10 kg in futures trade today, as speculators indulged in creating fresh positions on expectations of rise in demand for the upcoming festive and marriage season.
At the Multi Commodity Exchange counter, crude palm oil for November-month contract rose by Rs 3.30, or 0.80 per cent, to Rs 411.30 per 10 kg, with a trading volume of 180 lots, while October-month contract was up by Rs 3.20, or 0.78 per cent, to Rs 411.30 per 10 kg, with a business turnover of 132 lots.
Similarly, the oil for delivery in December contract increased by Rs 3.10, or 0.75 per cent, to Rs 411.50 per 10 kg, with a business volume of 17 lots.
Traders said fresh buying by speculators on hopes of pick up in demand in spot markets due to upcoming festive and marriage season led to a rise in crude palm oil at futures market.
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