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Crude palm oil futures harden 0.68% on tight supply

Press Trust of India  |  New Delhi 

Crude palm prices were higher by 0.68 per cent to Rs 486.60 per 10 kg in futures trade today as traders created fresh positions, supported by pick up in demand at the spot market.

Moreover, a tight stock position because of fall in supplies from producing belts fuelled the uptrend.

At Multi Commodity Exchange, crude palm for delivery in August rose by Rs 3.30, or 0.68 per cent, to Rs 486.60 per 10 kg, in a business turnover of 170 lots.

Similarly, the for delivery in September month went up by Rs 3.10, or 0.64 per cent, to Rs 486.80 per 10 kg in 121 lots.

Analysts said building up of positions by participants driven by pick-up in demand at the spot market against restricted supplies from producing regions mainly kept crude palm oil 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: Tue, August 08 2017. 11:42 IST