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Continued its rising streak for the third straight day, crude palm oil prices advanced 0.43% to Rs 472.40 per 10 kg in futures market today as speculators enlarged positions, tracking a firm trend at spot market on strong demand.
Firming trend in the overseas markets also boosted the sentiment.
At the Multi Commodity Exchange, crude palm oil for delivery in far-month February added Rs 2, or 0.43% to Rs 472.40 per 10 kg in business turnover of 282 lots.
Similarly, the oil for delivery in January contract rose by Rs 1.70, or 0.37% to Rs 464.50 per 10 kg in 213 lots.
Analysts said besides strong demand in the spot market, a firming global trend mainly kept crude palm oil prices higher at futures trade.
