 "Palm oil up 0.8% on global cues")
Extending gains for the third day, crude palm oil prices advanced by 0.75% to Rs 427.40 per 10 kg in futures trade today as speculators enlarged positions amid a firming global trend.
Besides, increased demand in the spot market further fuelled the uptrend.
At the Multi Commodity Exchange, crude palm oil for delivery this month added Rs 3.20, or 0.75%, to Rs 427.40 per 10 kg in a business turnover of 70 lots.
Analysts said speculators enlarged positions amid positive cues from overseas markets which mainly kept crude palm oil prices higher in futures trade.
Meanwhile, palm oil rose 0.7% to 2,225 ringgit (USD 636) a metric tonne on Bursa Malaysia Derivatives.
Besides, increased demand in the spot market further fuelled the uptrend.
At the Multi Commodity Exchange, crude palm oil for delivery this month added Rs 3.20, or 0.75%, to Rs 427.40 per 10 kg in a business turnover of 70 lots.
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Likewise, the oil for delivery in January next year edged up by Rs 2.50, or 0.58%, to Rs 436.70 per 10 kg in 62 lots.
Analysts said speculators enlarged positions amid positive cues from overseas markets which mainly kept crude palm oil prices higher in futures trade.
Meanwhile, palm oil rose 0.7% to 2,225 ringgit (USD 636) a metric tonne on Bursa Malaysia Derivatives.
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