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Crude palm oil up 0.8% on rising demand

Firming trend in overseas markets influenced crude palm oil futures trade here

Press Trust of India New Delhi
Crude palm oil futures for April rose by Rs 3.60, or 0.79%, to Rs 457 per kg in 251 lots.

On the Multi Commodity Exchange (MCX), the March contract moved up by Rs 3.50, or 0.77%, to Rs 453.30 per 10 kg in 205 lots.

Prices went up as speculators created fresh positions on expectations of a rise in spot market demand.

Firming trend in the overseas markets influenced crude palm oil futures trade here.

Speculation that stockpiles in Malaysia, world's second-largest producer, may decline as exports increased supported the trade.

Concerns over Europe's debt crisis receded that had piositive impact.
 

The oil advanced 1.7% to $ 778 a tonne on the Malaysia Derivatives Exchange (MDEX).

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First Published: Mar 19 2013 | 2:24 PM IST

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