Crude palm oil rises by 1.7% driven by spot demand
Speculators enlarged positions on rising spot demand
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Crude palm oil rose Rs 1.70 to Rs 450.50 per 10 kg in futures trade today as speculators enlarged positions on rising spot demand.
Besides, a firming trend in the Asian region also helped.
At Multi Commodity Exchange, crude palm oil for delivery in May rose Rs 1.70, or 0.37%, to Rs 450.50 per 10 kg with a trading volume of 145 lots.
Likewise, the oil for delivery in June rose Re 1, or 0.22%, to Rs 447 per 10 kg, with a business volume of 98 lots.
Analysts said speculators creating fresh positions driven by pick-up in demand in the spot market mainly led to rise in crude palm oil prices at futures trade.
Besides, a firming trend in the Asian region also helped.
At Multi Commodity Exchange, crude palm oil for delivery in May rose Rs 1.70, or 0.37%, to Rs 450.50 per 10 kg with a trading volume of 145 lots.
Likewise, the oil for delivery in June rose Re 1, or 0.22%, to Rs 447 per 10 kg, with a business volume of 98 lots.
Analysts said speculators creating fresh positions driven by pick-up in demand in the spot market mainly led to rise in crude palm oil prices at futures trade.
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First Published: May 21 2015 | 11:57 AM IST