ET:Crude palm oil futures extend gains on global cues
NEW DELHI: Crude palm oil futures prices extended gains for the second straight session today and rose Rs 4.50 to Rs 440.40 per 10 kg as speculators enlarged their positions, taking positive cues from overseas.
At the Multi Commodity Exchange, crude palm oil for delivery in February added Rs 4.50, or 1.03 per cent, to Rs 440.40 per 10 kg in business turnover of 1378 lots.
Similarly, the oil for delivery in January moved up by Rs 3.70, or 0.86 per cent, to Rs 432.10 per 10 kg in 781 lots.
Marketmen said fresh positions created by speculators in tandem with a firming global trend mainly kept crude palm oil futures higher for the second day.
Meanwhile, palm oil for March advanced by 1.2 per cent to USD 798 a tonne on the Malaysia Derivatives Exchange.
