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Uptick in demand lifts crude palm oil futures by 0.75%

Press Trust of India  |  New Delhi 

Crude prices were trading up by 0.75 per cent to Rs 643.90 per 10 kgs in futures trading today as traders created fresh positions, supported by pick-up in demand at the spot market.

Besides, a firming trend in overseas markets fuelled the uptrend.

At the Multi Commodity Exchange, crude for delivery in the current month rose by Rs 4.80, or 0.75 per cent, to Rs 643.90 per 10 kgs in a business turnover of 523 lots.

Similarly, the for delivery in April month went up by Rs 4.60, or 0.71 per cent, to Rs 648.90 per 10 kgs in 236 lots.

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

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

First Published: Thu, March 08 2018. 12:55 IST