Palm oil up 0.4% on rising demand
Analysts said rising demand in the spot markets mainly influenced crude palm oil prices as speculators enlarged positions
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Crude palm oil remained up for the second day and prices added 0.43% to Rs 565.40 per 10 kg in futures market today as speculators engaged in enlarging positions, tracking a firm trend at spot market on pick up in demand.
At the Multi Commodity Exchange, crude palm oil for delivery in May gained Rs 2.40, or 0.43%, to Rs 565.40 per 10 kg in business turnover of 25 lots.
Similarly, the oil for delivery in April edged up by Rs 2.30, or 0.40%, to Rs 572.50 per 10 kg in 105 lots.
Analysts said rising demand in the spot markets mainly influenced crude palm oil prices as speculators enlarged positions.
At the Multi Commodity Exchange, crude palm oil for delivery in May gained Rs 2.40, or 0.43%, to Rs 565.40 per 10 kg in business turnover of 25 lots.
Similarly, the oil for delivery in April edged up by Rs 2.30, or 0.40%, to Rs 572.50 per 10 kg in 105 lots.
Analysts said rising demand in the spot markets mainly influenced crude palm oil prices as speculators enlarged positions.
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First Published: Apr 01 2014 | 1:42 PM IST