Crude palm oil futures up on spot demand, global cues

NEW DELHI: Crude palm oil prices rose by Rs 2.10 to Rs 465.20 per 10 kg in futures trading today as speculators created fresh positions following pick-up in demand in the spot market amid a firm global trend.

At the Multi Commodity Exchange, crude palm oil for delivery in April rose by Rs 2.10, or 0.45 per cent to Rs 465.20 per 10 kg in business turnover of 196 lots.

Similarly, the oil for delivery in May traded higher by Rs 1.60, or 0.34 per cent to Rs 466.20 per 10 kg in 271 lots.

Analysts said fresh positions created by speculators, supported by rising demand in the spot market and a firming global trend mainly led to rise in crude palm oil prices at futures trade.

Meanwhile, palm oil for delivery in June advanced 1.3 per cent to USD 783 a tonne on the Malaysian Derivatives Exchange.