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Crude palm oil prices rose by Rs 2.60 to Rs 475.50 for10 kg in futures trade on Monday as speculators indulged in creating fresh positions on expectations of a rise in demand in the spot market.
A firming trend in overseas market also influenced the crude palm oil prices at futures market. At the Multi Commodity Exchange crude palm oil for August rose by Rs 2.60, or 0.54 per cent, to Rs 475.50 for 10 kg, with a trading volume of 62 lots.
Similarly, the oil for delivery in July moved up by Rs 2.50, or 0.52 per cent, to Rs 476.50 for 10 kg, with a business volume of 62 lots.
The oil prices for delivery in September inched up by Rs 2, or 0.42 per cent, to Rs 474.70 for 10 kg, with a trading volume of 15 lots.
Analysts said fresh buying by speculators on hopes of pick-up in spot market demand, mainly led to rise in crude palm oil price at futures market.
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