Crude palm oil edges higher 0.24% as demand picks up
Oil for delivery in June rose by 0.24%, to Rs 462.60 per 10 kg in business turnover of 91 lots
 "Crude palm oil edges higher 0.24% as demand picks up")
Crude palm oil prices rose 0.24% to Rs 462.60 per 10 kg in futures trading today as speculators went about creating fresh positions, taking positive cues from spot market on demand pick-up.
Also, restricted supplies from major producing regions in the physical market supported the upside.
At Multi Commodity Exchange, crude palm oil for delivery in June rose by Rs 1.10, or 0.24%, to Rs 462.60 per 10 kg in business turnover of 91 lots.
Similarly, the oil for delivery in July contracts traded higher by a similar margin to Rs 462.90 per 10 kg in 19 lots.
Analysts said speculators building up fresh positions on the back of a rise in demand in the spot market mainly influenced crude palm oil prices in futures trade.
Also, restricted supplies from major producing regions in the physical market supported the upside.
At Multi Commodity Exchange, crude palm oil for delivery in June rose by Rs 1.10, or 0.24%, to Rs 462.60 per 10 kg in business turnover of 91 lots.
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Similarly, the oil for delivery in July contracts traded higher by a similar margin to Rs 462.90 per 10 kg in 19 lots.
Analysts said speculators building up fresh positions on the back of a rise in demand in the spot market mainly influenced crude palm oil prices in futures trade.