Crude palm oil futures gain 0.28% on spot demand

By: | Published: June 24, 2016 12:21 PM

Crude palm oil prices edged up by 0.28 per cent to Rs 507.30 per 10 kg in futures trading today as traders built fresh positions after pick up in demand in the spot market.

crude oilthe oil for delivery in June traded higher by Rs 1.20 or 0.24 per cent to Rs 508.70 per 10 kg in 196 lots. (Reuters)

Crude palm oil prices edged up by 0.28 per cent to Rs 507.30 per 10 kg in futures trading today as traders built fresh positions after pick up in demand in the spot market.

At the Multi Commodity Exchange, crude palm oil for delivery in far-month July rose by Rs 1.40 or 0.28 per cent to Rs 507.30 per 10 kg in a business turnover of 784 lots.

Similarly, the oil for delivery in June traded higher by Rs 1.20 or 0.24 per cent to Rs 508.70 per 10 kg in 196 lots.

Also Read: Crude oil prices hit highest level of 2016; 5 things you should know

Analysts said fresh positions created by participants, driven by uptick in demand in the spot market against restricted supplies from producing regions, mainly led to the rise in crude palm oil prices in futures trade.

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