BS: Crude palm oil futures rise 0.30% on spot demand
Crude palm oil prices moved up by 0.30 per cent to Rs 500 per 10 kg in futures in the evening trade today as participants built up fresh positions, driven by pick up in demand in the spot market.
The exchange remained closed for the morning session on account of 'Moharum'.
At the Multi Commodity Exchange, crude palm oil for delivery in November month rose by Rs 1.50, or 0.30 per cent to Rs 500 per 10 kg in business turnover of 56 lots.
Similarly, the oil for delivery in October contracts traded higher by Rs 1.50, or 0.29 per cent to Rs 520 per 10 kg in 25 lots.
Analysts attributed the rise in crude palm oil prices at futures trade to building up of fresh positions by traders due to upsurge in demand in the spot market against restricted supplies from growing regions.
