Crude palm oil prices rose by Rs 1.70 to Rs 519.40 per 10 kg in futures trade today as speculators created fresh positions on expectations of a rise in spot market demand for the marriage season.
A firming trend in the overseas markets also influenced the crude palm oil futures prices.
At the Multi Commodity Exchange, the February delivery rose by Rs 1.70, or 0.32%, to Rs 519.40 per kg, with a trading volume of 102 lots.
The March crude palm oil moved up by Rs 1.40, or 0.27%, to Rs 524.50 per 10 kg, with a business turnover of 121 lots.
The prices for January delivery also inched up by Rs 1.20, or 0.15%, to Rs 517 per 10 kg, with a trade volume of four lots.
Analysts said fresh buying by speculators on hopes of pick-up in spot demand due to the marriage season, mainly led to a rise in crude palm oil prices at futures market.