MC:Crude palm oil futures up on spot demand, global cues
Crude palm futures oil traded marginally higher by 0.11% to Rs 470 per 10 kg today on pick-up in demand in the spot market, amid a firming global trend.
At the Multi Commodity Exchange, crude palm oil for delivery in October inched up by 50 paise, or 0.11%, to Rs 470 per 10 kg, with a business turnover of just one lot.
Likewise, the oil for delivery in September edged up by 20 paise, or 0.04%, to Rs 473 per 10 kg, with a trade volume of 28 lots.
Market analysts said apart from a firming trend overseas, pick-up in spot demand helped crude palm oil futures prices to trade marginally higher.
Meanwhile, palm oil futures for the October contract increased 0.8% to USD 983 per tonne on the Malaysia Derivatives Exchange.
