Crude palm oil up 0.8% on rising demand
Firming trend in overseas markets influenced crude palm oil futures trade here
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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).
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