 "Palm oil up 1.2% on spot demand")
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Extending gains for the third day, crude palm oil prices advanced by 1.18% to Rs 533.80 per 10 kg in futures trade today after speculators enlarged their positions, supported by strong demand in the spot market.
At the Multi Commodity Exchange, Crude palm oil for delivery in July gained Rs 6.20, or 1.18% to Rs 533.80 per kg in business turnover of 372 lots.
On the similar lines, the oil for delivery in June contract traded higher by Rs 5.10, or 0.96% to Rs 534 per 10 kg in 82 lots.
Market analysts said increased positions built up by speculators driven by strong demand in the spot markets, mainly kept Crude palm oil prices firm at futures trade.
At the Multi Commodity Exchange, Crude palm oil for delivery in July gained Rs 6.20, or 1.18% to Rs 533.80 per kg in business turnover of 372 lots.
On the similar lines, the oil for delivery in June contract traded higher by Rs 5.10, or 0.96% to Rs 534 per 10 kg in 82 lots.
Market analysts said increased positions built up by speculators driven by strong demand in the spot markets, mainly kept Crude palm oil prices firm at futures trade.
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