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Crude palm oil futures gain 0.69% on firm demand

Press Trust of India  |  New Delhi 

Crude palm prices went up by 0.69 per cent to Rs 597 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 also supported the upmove.

At the Multi Commodity Exchange, crude palm for September contract rose by Rs 4.10, or 0.69 per cent, to Rs 597 per 10 kg in a business turnover of 235 lots.

Similarly, the for delivery this month contract went up by Rs 3.50, or 0.59 per cent, to Rs 597 per 10 kg in 570 lots.

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

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

First Published: Fri, August 10 2018. 12:05 IST