Crude palm oil prices traded higher by 0.42 per cent to Rs 651.20 per ten kg in futures market today as speculators created fresh positions amid uptick in demand at the domestic spot market.
At the Multi Commodity Exchange, crude palm oil for delivery in May went up by Rs 2.70, or 0.42 per cent, to Rs 651.20 per 10 kg in a business turnover of 231 lots.
Similarly, the oil for delivery in April was trading higher by Rs 2.40, or 0.37 per cent, to Rs 645.50 per 10 kg in 112 lots.
Analysts said the rise in crude palm oil prices was mostly due to building up of fresh positions by traders on upsurge in demand against restricted supplies from growing regions.
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