Palm oil up 0.2% on uptick in demand, global cues
A firm global trend also influenced sentiment
 "Palm oil up 0.2% on uptick in demand, global cues")
Crude palm oil prices rose by 0.17% to Rs 537.20 per 10 kg in futures trade today as participants created fresh positions, driven by pick up in demand in the spot market.
Besides, a firm global trend also influenced sentiment.
At the Multi Commodity Exchange, crude palm oil for delivery in August edged up by 90 paise or 0.17% to Rs 537.20 per 10 kg in business turnover of 36 lots.
Similarly, the oil for delivery in September contracts inched up by 10 paise or 0.02% to Rs 524.50 per 10 kg in 41 lots.
Analysts said fresh positions built up by traders due to pick up in demand in the spot market amid a firm global trend mainly led to rise in crude palm oil prices at futures trade.
Meanwhile, palm oil futures for October delivery advanced 1.5% to 2,475 ringgit a tonne on Bursa Malaysia Derivatives, the highest level for the most-active contract since June 15 in yesterday's trade.
Besides, a firm global trend also influenced sentiment.
At the Multi Commodity Exchange, crude palm oil for delivery in August edged up by 90 paise or 0.17% to Rs 537.20 per 10 kg in business turnover of 36 lots.
Similarly, the oil for delivery in September contracts inched up by 10 paise or 0.02% to Rs 524.50 per 10 kg in 41 lots.
Analysts said fresh positions built up by traders due to pick up in demand in the spot market amid a firm global trend mainly led to rise in crude palm oil prices at futures trade.
Meanwhile, palm oil futures for October delivery advanced 1.5% to 2,475 ringgit a tonne on Bursa Malaysia Derivatives, the highest level for the most-active contract since June 15 in yesterday's trade.
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First Published: Aug 10 2016 | 12:02 PM IST