Crude palm oil prices rose further by Rs 3.30 to Rs 518.70 per 10 kg in futures trade today as participants indulged in enlarging positions amid a firming spot demand. At the Multi Commodity Exchange, crude palm oil for delivery in October rose by Rs 3.30, or 0.64%, to Rs 518.70 per 10 kg, with a business turnover of 274 lots. The oil for November delivery increased by Rs 3.10, or 0.60%, to Rs 513.50 per 10 kg, with trading volume of 71 lots. In Malaysia, Palm oil gained as much as 1% to 2,342 ringgit (USD 732) a tonne on the Malaysia Derivatives Exchange. Marketmen said the rise in crude palm oil prices at futures trade to rising domestic demand and a firming global trend where palm oil rose to three-week high on speculation that rains in the US may delay the harvest of soybean crop, crushed to make an alternative oil used in food.

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