Crude palm oil climbs by 1.9% on global cues
Strong demand in the spot market also fuelled the uptrend
 "Crude palm oil climbs by 1.9% on global cues")
Tracking a firm global trend, crude palm oil prices surged by 1.95% to Rs 445.50 per 10 kg in futures trade today as participants enlarged positions.
Also, strong demand in the spot market fuelled the uptrend.
At the Multi Commodity Exchange, crude palm oil for delivery in May month shot up by Rs 8.50, or 1.95% to Rs 445.50 per 10 kg in business turnover of 138 lots.
Analysts said speculators creating fresh positions, taking positive cues from overseas markets.
Meanwhile, palm oil prices climbed 0.6% to 2,205 ringgit ($607) a metric tonne on the Bursa Malaysia Derivatives.
Also, strong demand in the spot market fuelled the uptrend.
At the Multi Commodity Exchange, crude palm oil for delivery in May month shot up by Rs 8.50, or 1.95% to Rs 445.50 per 10 kg in business turnover of 138 lots.
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Similarly, the oil for delivery in April contracts traded higher by Rs 7.80, or 1.79% to Rs 443.90 per 10 kg in 239 lots.
Analysts said speculators creating fresh positions, taking positive cues from overseas markets.
Meanwhile, palm oil prices climbed 0.6% to 2,205 ringgit ($607) a metric tonne on the Bursa Malaysia Derivatives.