Crude palm oil futures prices rose by Rs 2.10 to Rs 519.30 per 10 kg today, as speculators created fresh positions on expectations of a rise in demand in the spot market due to marriage season.
In addition, a firming trend in overseas markets also influenced the crude palm oil futures prices.
On the Multi Commodity Exchange, crude palm oil for delivery in March rose by Rs 2.10, or 0.40%, to Rs 519.30 per kg, with a trading volume of 18 lots.
The February contract gained Rs 1.90, or 0.37%, to Rs 515 per 10 kg, with a business turnover of 80 lots, while April palm oil inched up by Rs 1.70, or 0.32%, to Rs 519.20 per 10 kg, with a trade volume of 14 lots.
Analysts said fresh buying by speculators on hopes of pick-up in demand in the spot market due to marriage season, mainly led to rise in crude palm oil prices at futures market.
