Crude palm oil futures recovered by Rs 2.10 to Rs 506.50 per 10 kg in futures trade today, as speculators created fresh positions on expectations of a rise in demand in the spot market.
Firming trend in overseas market also influenced the crude palm oil prices at futures market.
At the Multi Commodity Exchange, September crude palm oil rose by Rs 2.10, or 0.41%, to Rs 506.50 per 10 kg, with trading volume of 73 lots.
The November contract moved up by Rs 2, or 0.40%, to Rs 506.60 per 10 kg, with business volume of 41 lots, while prices for October contract inched up by Rs 1.20, or 0.23%, to Rs 507.20 per 10 kg, with an open interest of 260 lots.
Analysts said fresh buying by speculators on hopes of pick up in demand in the spot market, mainly led to the rise in crude palm oil prices at futures market.
