Crude palm oil futures prices rose by Rs 4.40 to Rs 487.90 per 10 kg today, as speculators created fresh positions on expectations of a rise in spot demand.
A firm trend in overseas markets also influenced the crude palm oil prices in the futures market.
At the Multi Commodity Exchange the October contract rose by Rs 4.40, or 0.91%, to Rs 487.90 per 10 kg, with a trading volume of 58 lots.
November crude palm oil moved up by Rs 4, or 0.83%, to Rs 485.50 per 10 kg, with a business volume of 34 lots, while prices for September contract inched up by Rs 3.30, or 0.67%, to Rs 489.20 per 10 kg, with a trade turnover of 15 lots.
Analysts said fresh buying support by speculators on hopes of a pick-up in spot demand, mainly led to the rise in crude palm oil futures prices.
A firm global trend further influenced the market sentiment, they added.
Palm oil advanced by 1.2% to USD 1,012 per tonne on the Malaysia Derivatives Exchange.
