Crude palm oil futures prices remain higher as demand picks up

Nov 27 2012, 14:25 IST
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SummaryCrude palm oil remained higher for the second straight day and prices gained 1.10 to Rs 442.50 per 10 kg in futures trading today.

Crude palm oil remained higher for the second straight day and prices gained 1.10 to Rs 442.50 per 10 kg in futures trading today as speculators enlarged their positions, tracking a firm trend at spot market on pick up in demand.

At the Multi Commodity Exchange, crude palm oil for delivery in December added Rs 1.10, or 0.25 per cent, to Rs 442.50 per 10 kg in business turnover of 980 lots.

Similarly, the oil for delivery in the November contract traded higher by 40 paise, or 0.18 per cent to Rs 434.10 per 10 kg in 240 lots.

Market analysts firming trend at the spot markets on the back of pick-up in demand mainly influenced crude palm oil prices at futures trade here.

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