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Crude palm oil futures gain 0.35%

Press Trust of India  |  New Delhi 

Crude palm prices went up by 0.39 per cent to Rs 632 per 10 kg in futures trade today as speculators widened their positions amid firm demand at the spot market.

Besides, a positive trend in overseas markets supported the upmove.

However, some gains were trimmed in line with lower tariff value for July. The government had slashed the base import price of crude palm by USD 26 to USD 618 per tonne.

At the Multi Commodity Exchange, crude palm for this month contract rose by Rs 2.20, or 0.35 per cent, to Rs 632 per 10 kg, in a business turnover of 109 lots.

Similarly, the oil for delivery in August contract went up by Rs 1.80, or 0.29 per cent, to Rs 625.90 per 10 kg in 78 lots.

Analysts said widening of positions by participants amid pick up in spot demand against tight stocks position on restricted supplies from overseas markets kept prices higher in futures trade.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, July 09 2018. 11:50 IST