Crude palm oil futures trade higher

Crude palm oil prices traded higher by Rs 2 to Rs 516.30 per 10 kg in futures trade today as speculators enlarged their positions, supported by a rise in spot market demand.

At the Multi Commodity Exchange, crude palm oil for delivery in July gained Rs 2, or 0.39% to Rs 516.30 per 10 kg, with a business turnover of two lots. 

Similarly, the oil for delivery in June rose by Rs 1.70, or 0.33% to Rs 519.60 per 10 kg, with an open interest of two lots. 

Crude palm oil prices for delivery in May edged up by 60 paise, or 0.31% to Rs 523.10 per 10 kg, with a business volume of a single lot.  

 

Analysts said increased buying by speculators following pick-up in spot market demand mainly led to the rise in crude palm oil prices at futures trade.