Crude palm oil prices were trading up by 0.38 per cent to Rs 494 per 10 kg in futures trade today as speculators enlarged positions driven by a firm demand at the spot market.
Moreover, a firming trend overseas supported the uptrend.
At the Multi Commodity Exchange, crude palm oil for delivery this month rose by Rs 1.90, or 0.38 per cent, to Rs 494 per 10 kg in a business turnover of 116 lots.
Similarly, the oil for delivery in June went up by Rs 1.30, or 0.27 per cent, to Rs 478.40 per 10 kg in 35 lots.
Analysts said, widening of positions by participants driven by pick-up in demand in the spot market against tight stocks position on restricted supplies from producing regions, mainly kept crude palm oil prices higher at futures trade.
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