BS:Crude palm oil extends gains on increased demand
Crude palm oil extended gains for the fourth straight day by gaining 0.29 per cent to Rs 545.70 per 10 kg in futures market today due to increased demand in the spot market.
At the Multi Commodity Exchange, crude palm oil for delivery in February added Rs 1.60, or 0.29 per cent, to Rs 545.70 per 10 kg in a business turnover of 180 lots.
The March contract added Rs 1.10, or 0.20 per cent, to Rs 547.40 per 10 kg in 87 lots.
Analysts said speculation enlarged their positions due to increased demand in the spot market which led an upward movement in crude palm oil for the fourth day at futures trade.
