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Crude palm oil futures rise 0.38% on demand uptick

Press Trust of India  |  New Delhi 

Crude prices rose 0.38 per cent to Rs 576.80 per 10 kgs in futures trade today as participants created fresh bets, supported by pick-up in demand in the spot market.

A firming trend in overseas markets also fuelled the uptrend.

At the Multi Commodity Exchange, crude for delivery in February rose Rs 2.20, or 0.38 per cent, to Rs 576.80 per 10 kgs in business turnover of 189 lots.

Similarly, the for delivery in March went up by Rs 1.90, or 0.33 per cent, to Rs 580.80 per 10 kgs in 112 lots.

Analysts said fresh positions built up by participants on back of rise in demand in the physical market against restricted supplies from producing regions drove crude prices.

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

First Published: Thu, February 15 2018. 11:35 IST