Crude palm oil prices rose by Rs 5.40, or 1.32 per cent, to Rs 413 per 10 kg in futures trade today, as speculators created fresh positions on expectations of a rise in demand in the spot market.
At the Multi Commodity exchange platform, crude palm oil for September-month contract rose by Rs 5.40 or 1.32 per cent, to Rs 413 per 10 kg, with a trading volume of 454 lots, while October contract gained Rs 5.10, or 1.27 per cent, to Rs 406 per 10 kg, with an open interest of 316 lots.
Similarly, the oil for delivery in current-month August contract moved up by Rs 2.10, or 0.50 per cent, to Rs 417.50 per 10 kg, with a business volume of 74 lots.
Analysts said fresh buying by speculators on hopes of pick up in demand in the spot market led to a rise in crude palm oil at futures market.
