ET:Crude palm oil futures extend gains on global cues
NEW DELHI: Crude palm oil futures prices extended gains by Rs 1.40 to Rs 453 per 10 kg today, as speculators created fresh positions amid increased demand in the spot markets.
A firming trend in the global markets also influenced crude palm oil prices at futures trade.
On the Multi Commodity Exchange, crude palm oil for March rose by Rs 1.40, or 0.31 per cent, to Rs 453 per 10 kg in a business turnover of 354 lots.
Likewise, the oil for delivery in April traded higher by Rs 1.20, or 0.26 per cent, to Rs 456 per 10 kg in 235 lots.
Analysts said the rise in crude palm oil prices was mostly supported by rising demand at spot markets, apart from a firming trend overseas.
Meanwhile, in Malaysia, palm oil prices climbed one per cent to USD 779 a tonne.
