NEW DELHI: Crude palm oil prices rose by Rs 3.60 to Rs 457 per 10 kg in futures trade today as speculators created fresh positions on expectations of a rise in spot market demand. A firming trend in the overseas markets also influenced crude palm oil prices at futures trade. On the Multi Commodity Exchange, crude palm oil for April delivery rose by Rs 3.60, or 0.79 per cent, to Rs 457 per kg, with a trading volume of 251 lots. Similarly, the oil for delivery in March moved up by Rs 3.50, or 0.77 per cent, to Rs 453.30 per 10 kg, with a business turnover of 205 lots. Analysts said the rise in crude palm oil prices mostly speculators increasing their position on hopes of rise in demand driven by a firming global trend. The palm oil gained on speculation that stockpiles in Malaysia, the world's second-largest producer, may decline as exports increase, and as concerns receded over Europe's debt crisis. The oil advanced 1.7 per cent to $778 a tonne on the Malaysia Derivatives Exchange.

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