Crude palm oil rises marginally on firm global cues

July contract up 0.16%

Crude palm oil prices traded higher by 0.16% to Rs 565.10 per 10 kg in futures market today as speculators created fresh positions, tracking a firm global trend.

Pick up in demand in the spot as well as global market supported the uptrend, traders said.

At the Multi Commodity Exchange, crude palm oil for delivery in July traded marginally higher by 90 paise, or 0.16%, to Rs 565.10 per 10 kg, with a business turnover of 96 lots.

The August contract edged up by 40 paise, or 0.07%, to Rs 565.20 per 10 kg in 511 lots.

Meanwhile, palm oil advanced 1.4% to $926 a tonne on the Malaysia Derivatives Exchange.