Buoyed by a firming trend in the global markets, crude palm oil prices traded marginally higher by 0.10% to Rs 482.70 per 10 kg in futures trade today. A better trend at the spot markets on pick-up in demand also supported the uptrend. At the Multi Commodity Exchange, crude palm oil for July delivery traded higher by 50 paise, or 0.10%, to Rs 482.70 per 10 kg, with a business turnover of 161 lots. Likewise, the oil for August deliveryedged up by 40 paise, or 0.08%, to Rs 482 per 10 kg, with an open interest of 592 lots. Analysts said besides a firming trend overseas, pick-up in spot market demand helped crude palm oil futures prices to trade marginally higher. Meanwhile, palm oil for the October delivery gained 1.1% to $1,047 a tonne on the Malaysia Derivatives Exchange.

Source