Agri Business

Crude palm oil rises on higher demand

PTI New Delhi | Updated on January 11, 2011 Published on January 11, 2011

On the Multi Commodity exchange counter, crude palm oil for delivery in January rose by Rs 4.10 or 0.73 per cent to Rs 560 a kg, with business turnover of 71 lots. -- Raju V   -  The Hindu

Crude palm oil futures prices rose by Rs 4.10 to Rs 560 ar 10 kg in futures trade on Tuesday, as speculators indulged in creating fresh positions on expectations of a rise in demand in the spot market. Firm trend in overseas markets influenced the crude palm oil prices at futures market.

On the Multi Commodity exchange counter, crude palm oil for delivery in January rose by Rs 4.10 or 0.73 per cent to Rs 560 a kg, with business turnover of 71 lots.

Similarly, the oil for delivery in February moved up by Rs 1.90 or, 0.33 per cent, to Rs 564.90 a 10 kg, with a business turnover of 105 lots.

While delivery in March inched up by Rs 1.70, or 0.30 per cent, to Rs 567.90 a 10 kg, with an open interest of four lots.

Market analysts said fresh buying by speculators on hopes of pick-up in demand in the spot market, led to the rise in crude palm oil at futures market.

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Published on January 11, 2011
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