 "Crude palm oil prices rise by 0.7% as demand picks up")
Crude palm oil prices rose 0.75% to Rs 403.80 per 10 kg in futures trading today as participants indulged in creating fresh positions supported by rising demand in the spot market amid a firming trend overseas.
At the Multi Commodity Exchange, crude palm oil for delivery in January 2016 rose by Rs 3, or 0.75%, to Rs 403.80 per 10 kg in a business turnover of 270 lots.
Likewise, the oil for delivery in December was trading up by Rs 2.50, or 0.64%, to Rs 392.50 per 10 kg in 111 lots.
Analysts said speculators creating fresh positions driven by pick up in demand in the spot market and a firming trend in the global market mainly led to the rise in crude palm oil prices at the futures trade.
At the Multi Commodity Exchange, crude palm oil for delivery in January 2016 rose by Rs 3, or 0.75%, to Rs 403.80 per 10 kg in a business turnover of 270 lots.
Likewise, the oil for delivery in December was trading up by Rs 2.50, or 0.64%, to Rs 392.50 per 10 kg in 111 lots.
Analysts said speculators creating fresh positions driven by pick up in demand in the spot market and a firming trend in the global market mainly led to the rise in crude palm oil prices at the futures trade.