Crude palm oil prices rose 0.37% to Rs 529.10 per 10 kg in futures trade today as speculators created fresh positions amid rising demand in the spot markets amid low stocks.
Besides, a firming trend in overseas markets also supported the oil prices in futures trade.
On the Multi Commodity Exchange, crude palm oil for October delivery rose by Rs 2, or 0.37%, to Rs 529.10 per 10 kg, with a trading volume of 19 lots.
Similarly, the oil for delivery in September moved up by Rs 1.70, or 0.32%, to Rs 531.90 per 10 kg, with a business turnover of 100 lots.
Analysts said fresh positions created by speculators driven by rising spot demand against tight stocks and a firming trend overseas, led to a rise in crude palm oil prices at futures market.
In Malaysia, palm oil advanced as much as 0.90% to USD 721 a tonne on the Malaysia Derivatives Exchange.
