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Crude palm oil gained 1.15% to Rs 527.30 per 10 kg in futures trade today as speculators created fresh positions, tracking a firm global trend.
Sentiment bolstered as palm oil advanced to the highest level in more than five weeks in global markets after the US Congress voted to end a 16-day government shutdown, and as rising Malaysian exports signalled growing demand.
At the Multi Commodity Exchange, crude palm oil for delivery in October month gained Rs 6, or 1.15%, to Rs 527.30 per 10 kg in business turnover of 81 lots.
Similarly, the oil for delivery in November traded higher by Rs 5.90, or 1.13%, to Rs 527.30 per 10 kg in 48 lots.
Marketmen attributed the rise in crude palm oil prices at futures trade to a firming global trend after the US Congress voted to end a 16-day government shutdown, and as rising Malaysian exports signalled growing demand.
Meanwhile, palm oil for the contract for delivery in January rose 1% to 769 dollar a metric tonne, the highest level since September 9, on the Malaysia Derivatives.
