 "Crude palm oil up by 1.1% on good demand")
Extending yesterday's gain, crude palm oil prices advanced by another 1.07% to Rs 453.50 per 10 kg in futures trade today as traders enlarged positions on the back of surging demand in the spot market.
Also, restricted supplies from producing regions fuelled the uptrend.
At the Multi Commodity Exchange, crude palm oil for delivery in February rose Rs 4.80, or 1.07%, to Rs 453.50 per 10 kg, in a business turnover of 212 lots.
Analysts said widening of positions by participants, driven by upsurge in demand in the spot market mainly kept crude palm oil prices higher at futures trade.
Also, restricted supplies from producing regions fuelled the uptrend.
At the Multi Commodity Exchange, crude palm oil for delivery in February rose Rs 4.80, or 1.07%, to Rs 453.50 per 10 kg, in a business turnover of 212 lots.
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On similar lines, the oil for delivery in March gained Rs 4.40, or 0.97%, to Rs 459.40 per 10 kg in 148 lots.
Analysts said widening of positions by participants, driven by upsurge in demand in the spot market mainly kept crude palm oil prices higher at futures trade.
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