NEW DELHI: Crude palm oil futures prices rose by Rs 2.60 to Rs 454.40 per 10 kg today as speculators created fresh positions, driven by rising spot demand.
A firming trend in the overseas market and increasing demand of the oil in the physical market led to increase in the prices at futures market.
On the Multi Commodity Exchange, crude palm oil for February delivery was up by Rs 2.60, or 0.57 per cent, to Rs 454.40 per kg, with a trading volume of 251 lots.
Similarly, the oil for delivery in March moved up by Rs 2.20, or 0.48 per cent, to Rs 464.10 per 10 kg, with a business turnover of 268 lots.
Analysts said the rise in crude palm oil prices mostly supported by rising demand at spot markets and a firm global trend.
Meanwhile, palm oil climbed 1.30 per cent to $825 a tonne on the Malaysia Derivatives Exchange.
