Crude palm oil rises by 0.5% on spot demand
Speculators enlarged positions on strong spot demand
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Crude palm oil rose Rs 2.20 to Rs 445.50 per 10 kg in futures trade today as speculators enlarged positions on strong spot demand.
Besides, a firming trend in the Asian region also supported the upside.
At Multi Commodity Exchange, crude palm oil for delivery in May rose Rs 2.20, or 0.49 per cent, to Rs 445.50 per 10 kg with a trading volume of 80 lots.
Likewise, the oil for delivery in June rose Rs 2, or 0.45 per cent, to Rs 445.30 per 10 kg, with a business volume of 101 lots.
Analysts said firming trends at domestic spot markets and positive global cues supported the upside in crude palm oil futures prices here.
Besides, a firming trend in the Asian region also supported the upside.
At Multi Commodity Exchange, crude palm oil for delivery in May rose Rs 2.20, or 0.49 per cent, to Rs 445.50 per 10 kg with a trading volume of 80 lots.
Likewise, the oil for delivery in June rose Rs 2, or 0.45 per cent, to Rs 445.30 per 10 kg, with a business volume of 101 lots.
Analysts said firming trends at domestic spot markets and positive global cues supported the upside in crude palm oil futures prices here.
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First Published: May 20 2015 | 11:22 AM IST