New Delhi, Aug 12 (PTI) Crude palm oil prices rose by Rs 3.20 to Rs 473 per 10 kg in futures trade today as speculators indulged in creating fresh positions on rising spot market demand ahead of festive season. Firming trend in overseas market also influenced the crude palm oil prices at futures market. At the Multi Commodity Exchange, crude palm oil for October delivery rose by Rs 3.20, or 0.68 per cent, to Rs 473 per 10 kg, with a trading volume of 58 lots. Similarly, the oil for delivery in September moved up by Rs 3.10, or 0.65 per cent, to Rs 477 per 10 kg, with a business volume of 32 lots. The oil for delivery in August inched up by Rs 2.60, or 0.54 per cent, to Rs 480.70 per 10 kg, with a trading volume of 65 lots. Analysts said fresh buying by speculators on pick-up in demand in the spot market ahead of festive season, mainly led to rise in crude palm oil prices at futures market. Meanwhile, palm oil gained 1.1 per cent to USD 1,008 a tonne on the Malaysia Derivatives Exchange.

Source