Crude palm oil futures up on overseas cues
At the Multi Commodity Exchange, crude palm oil for delivery in August rose by Rs 4.60, or 0.94 per cent, to Rs 495.10 per 10 kg, with a business turnover of 188 lots.
By PTI |
NEW DELHI: Supported by a firming trend overseas, crude palm oil prices up by Rs 4.60 to Rs 495.10 per 10 kg in futures trade today on speculators creating fresh positions amid pick-up in demand in spot markets.
At the Multi Commodity Exchange, crude palm oil for delivery in August rose by Rs 4.60, or 0.94 per cent, to Rs 495.10 per 10 kg, with a business turnover of 188 lots.
Oil prices for September contract increased by Rs 4.30, or 0.88 per cent, to Rs 488.50 per 10 kg with a volume of 129 lots.
Market analysts said fresh buying by traders, influenced by a firming global trend mainly helped crude palm oil prices to trade higher at futures trade.
In Malaysia, palm oil gained 0.60 per cent to USD 698 a tonne as weaker ringgit increased prospects for exports, the world's second-largest producer.
At the Multi Commodity Exchange, crude palm oil for delivery in August rose by Rs 4.60, or 0.94 per cent, to Rs 495.10 per 10 kg, with a business turnover of 188 lots.
Oil prices for September contract increased by Rs 4.30, or 0.88 per cent, to Rs 488.50 per 10 kg with a volume of 129 lots.
Market analysts said fresh buying by traders, influenced by a firming global trend mainly helped crude palm oil prices to trade higher at futures trade.
In Malaysia, palm oil gained 0.60 per cent to USD 698 a tonne as weaker ringgit increased prospects for exports, the world's second-largest producer.
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