Crude palm oil up by 2.2% on good demand

Crude palm oil prices climbed 2.16% to Rs 563.40 per 10 kg in futures trade today as speculators enlarged their positions, tracking a firm trend at spot market on good demand.

 

At the Multi Commodity Exchange, crude palm oil for delivery in September climbed by Rs 11.90, or 2.16% to Rs 563.40 per 10 kg in business turnover of 903 lots.

 

Likewise, the oil for delivery in August traded higher by Rs 11.30, or 2.04% to Rs 566.50 per kg in 364 lots.

 

Market analysts said speculators enlarged their positions, tracking a firm trend at spot market on good demand mainly helped crude palm oil prices to climb at futures trade.