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Crude palm oil prices extended gains for the second day by adding 0.29% to reach Rs 523.50 per 10 kg in futures trade today as speculators enlarged positions, supported by rising demand in the spot market.
At the Multi Commodity Exchange, crude palm oil for delivery in August advanced by Rs 1.50, or 0.29% to Rs 523.50 per 10 kg in business turnover of 18 lots.
In a similar fashion, the oil for delivery in July contract added Rs 1.40, or 0.26% to Rs 538.40 per 10 kg in 10 lots.
Analysts said besides rising demand in the spot market, restricted arrivals from producing regions mainly pushed up crude palm oil prices at futures trade.
