Crude palm oil prices rose by Rs 4.30 to Rs 560.70 per 10 kg in futures trade today as speculators created fresh positions on expectations of a rise in spot market demand.
A firming trend in the overseas markets also influenced the crude palm oil futures prices.
On the Multi Commodity Exchange, crude palm oil for March delivery rose by Rs 4.30, or 0.77%, to Rs 560.70 per kg, with a trading volume of 328 lots.
The April contract gained Rs 3.50, or 0.61%, to Rs 569.70 per 10 kg, with a business turnover of 777 lots.
Palm oil for delivery in May inched up by Rs 2.50, or 0.43%, to Rs 573 per 10 kg, with a trade volume of 380 lots.
Analysts said fresh buying by speculators on hopes of pick-up in spot market demand due to the marriage season, mainly led to a rise in crude palm oil prices at futures market.
