ET:Crude palm oil futures gain 1.63% on strong demand
NEW DELHI: Amid strong domestic demand and a firming global trend, crude palm oil prices rose 1.63 per cent to Rs 468 per 10 kg in futures trade today.
At the Multi Commodity Exchange, crude palm oil for delivery in June gained Rs 7.50, or 1.63 per cent, to Rs 468 per 10 kg in business turnover of 723 lots.
Similarly, the oil for delivery in the May contract traded higher by Rs 5.50, or 1.19 per cent, to Rs 467.40 per 10 kg in 1,065 lots.
Analysts said besides strong demand in the spot market, a firming trend in the global markets, mainly pushed up crude palm oil prices at futures market.
Meanwhile, palm oil for the July delivery climbed 1.5 per cent to $ 777 a tonne, the highest since April 29 on the Malaysia Derivatives.
