NEW DELHI: Crude palm oil prices rose by Rs 1.80 to Rs 573 per 10 kg in futures trade today as speculators created fresh positions on expectations of pick up in spot market demand amid low stocks.
A firming trend in overseas markets also supported the oil prices in futures trade.
On the Multi Commodity Exchange, crude palm oil for August delivery rose by Rs 1.80, or 0.31 per cent, to Rs 573 per 10 kg, with a trading volume of 1,230 lots.
Similarly, the oil for delivery in September moved up by Rs 1.60, or 0.28 per cent, to Rs 572.40 per 10 kg, with a business turnover of 1,465 lots.
Analysts said fresh buying by speculators on hopes of pick-up in spot market demand due to festive season mainly led to a rise in crude palm oil prices at futures market.
