Crude palm oil rises 0.44 pc in futures trade

Crude palm oil prices were trading up by 0.44 per cent to Rs 476 per 10 kg in futures trade today as traders created fresh positions, supported by pick-up in demand at the spot market.

Moreover, tight stocks position on fall in supplies from producing regions too fuelled the uptrend.

At the Multi Commodity Exchange, crude palm oil for delivery in July rose Rs 2.10, or 0.44 per cent, to Rs 476 per 10 kg in a business turnover of 234 lots.

Similarly, the oil for delivery in August went up by Rs 1.30, or 0.27 per cent, to Rs 467.40 per 10 kg in 58 lots.
 

Analysts said building up 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.