Crude palm oil futures prices rises 0.67% on spot demand

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SummaryCrude palm oil rose by Rs 2.80 to Rs 420 per 10 kg in futures trade today.

Crude palm oil rose by Rs 2.80 to Rs 420 per 10 kg in futures trade today on pick-up in spot markets demand amid firm Asian trend.

At the Multi Commodity Exchange, crude palm oil for delivery in December rose by Rs 2.80, or 0.67 per cent, to Rs 420 per 10 kg with a trading volume of 453 lots.

Likewise, the oil for delivery in January rose by Rs 2.70, or 0.63 per cent, to Rs 425.40 per 10 kg, with a business volume of 280 lots.

Analysts said apart from a firming trend overseas, pick- up in the spot demand mainly helped crude palm oil futures prices.

Meanwhile, palm oil gained 1.30 per cent to USD 759 a tonne on the Malaysia Derivatives Exchange.

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