ET:Crude palm oil futures remain up on increased demand
NEW DELHI: Crude palm oil remained higher for the second straight day and prices added Rs 1.80 to Rs 475 per 10 kg in futures trade on Friday as speculators engaged in enlarging positions amid increased spot market demand.
At the Multi Commodity Exchange, crude palm oil for delivery in May added Rs 1.80, or, 0.38 per cent, to Rs 475 per 10 kg in business turnover of 91 lots.
Similarly, oil prices for delivery in June traded higher by Rs 1.30, or, 0.27 per cent, to Rs 477 per 10 kg in 102 lots.
Market analysts said fresh positions created by speculators tracking strong demand in the spot markets, mainly kept crude palm oil prices higher at futures market here.
