Crude palm oil futures marginally up on global cues

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SummaryCrude palm oil traded marginally higher by Rs 4.40 to Rs 430.50 per 10 kg in futures market.

Crude palm oil traded marginally higher by Rs 4.40 to Rs 430.50 per 10 kg in futures market today on pick up in spot markets demand amid firm global trend.

At the Multi Commodity Exchange, crude palm oil for delivery in January rose by Rs 4.40, or 1.03 per cent to Rs 430.50 per 10 kg with a trading volume of 253 lots. Likewise, the oil for delivery in December rose by Rs 4.20, or 1 per cent, to Rs 425 per 10 kg with a business volume of 649 lots.

Analysts said apart from a firming trend overseas, pick-up in the spot demand at domestic markets mainly helped crude palm oil futures prices to trade marginally higher.

Meanwhile, palm oil gained 1.5 per cent to 791 dollar a tonne on the Malaysia Derivatives Exchange.

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