NEW DELHI: Tracking a firm global trend, crude palm oil rose by Rs 3.50 to Rs 502.50 per 10 kg in futures trading today as speculators built-up fresh positions.
At the Multi Commodity Exchange, crude palm oil for delivery in June rose by Rs 3.50, or 0.70 per cent, to Rs 502.50 per 10 kg in business turnover of 74 lots.
Similarly, the oil for delivery in the July contract traded higher by Rs 3.10, or 0.62 per cent, to Rs 504.60 per 10 kg in 58 lots.
Analysts said fresh positions created by speculators in tandem with a firm global trend on speculation that exports from Indonesia and Malaysia may rise ahead of the Muslim fasting month of 'Ramadan' mainly led to rise in crude palm oil prices at futures trade.
Meanwhile, palm oil for the September delivery climbed 0.7 per cent to USD 786 a metric tonne, the highest since March 25 on the Malaysia Derivatives.
