Crude palm oil marginally up on global cues

August contract up 0.18% as speculators take fresh positions

Crude palm oil futures prices today traded marginally higher by 0.18% to Rs 568.90 per 10 kg as speculators created fresh positions, taking a positive cues from overseas markets.

Rising spot demand further influenced the crude palm oil futures here, traders said.

At the Multi Commodity Exchange, crude palm oil for delivery in August gained one rupee, or 0.18%, to Rs 568.90 per 10 kg in business turnover of 954 lots.

The July contract edged up by 50 paise, or 0.09%, to Rs 567.40 per 10 kg in 196 lots.

Market analysts said fresh buying by speculators in tandem with a firm global trend mainly led to rise in crude palm oil prices at futures trade.

 

Meanwhile, palm oil for October delivery gained 0.8% to $927 a tonne on the Malaysia Derivatives Exchange.