Crude palm oil up 0.88% on firm global cues

August contract also rises 0.75%

Crude palm oil rose by 0.88% to Rs 4.90 per 10 kg in futures trade today as traders created fresh positions on the back of a firming global trend.

At the Multi Commodity Exchange, crude palm oil for delivery in September rose by Rs 4.90, or 0.88%, to Rs 559.80 per 10 kg, with a business turnover of 495 lots.

The August contract rose by Rs 4.40, or 0.75%, to Rs 558.50 per 10 kg, with a trading volume of 108 lots.

Marketmen attributed the rise in crude palm oil at futures trade to a firming global trend.

Meanwhile, palm oil futures for November delivery advanced by 1% to $949 a tonne on the Malaysia Derivatives Exchange.