Crude palm oil futures rise on global cues

Crude oil palm oil traded higher by 0.15% to Rs 597.10 per 10 kg in futures trade today as speculators created fresh positions, tracking a firming trend in overseas markets.

At the Multi Commodity Exchange, the May contract traded higher by 90 paise, or 0.15%, to Rs 597.10 per 10 kg in business turnover of 212 lots.

The March contract edged up by 40 paise, or 0.07%, to Rs 589.60 per 10 kg in 22 lots.

Market analysts said fresh buying by speculators in tandem with a firming global trend mainly helped crude palm oil prices to trade higher at futures trade.

Meanwhile, the June contract climbed 0.4% to $1,140 a tonne on the Malaysia Derivatives Exchange.