Continuing its winning run for the third straight day, crude palm oil prices added 1.13% to Rs 454.70 per 10 kg in futures trading today as speculators enlarged positions, taking positive cues from the spot market.
Also, restricted supplies from major producing regions and a firming global trend fuelled uptrend.
At the Multi Commodity Exchange, crude palm oil for delivery in June gained Rs 5.10, or 1.13% to Rs 454.70 per 10 kg in business turnover of 280 lots.
Analysts said that apart from a firm trend at the spot market on the back of surge in demand, a rising global trend mainly led to an upward movement in crude palm oil prices in futures trade.
Also, restricted supplies from major producing regions and a firming global trend fuelled uptrend.
At the Multi Commodity Exchange, crude palm oil for delivery in June gained Rs 5.10, or 1.13% to Rs 454.70 per 10 kg in business turnover of 280 lots.
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Similarly, the oil for delivery in May contracts edged up by Rs 2.60, or 0.57%, to Rs 458 per 10 kg in 72 lots.
Analysts said that apart from a firm trend at the spot market on the back of surge in demand, a rising global trend mainly led to an upward movement in crude palm oil prices in futures trade.
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