Commodities

Crude palm oil futures up on spot demand

| Updated on: Apr 28, 2011

Crude palm oil prices rose Rs 4 to Rs 518.80 per 10 kg at the futures trade today as speculators created fresh positions on the back of a rise in spot demand.

At the Multi Commodity Exchange, crude palm oil for delivery in May moved up by Rs 4 or 0.77 per cent to Rs 518.80 per 10 kg with a business volume of 56 lots.

The oil for delivery in June gained Rs 3.60 or 0.77 per cent to Rs 516.50 per 10 kg with a business turnover of 13 lots. Similarly, April contract edged up by Rs 2.60 or 0.5 per cent to Rs 521.90 per 10 kg with a business turnover of 54 lots.

Analysts said fresh buying by speculators on the back of pick-up in demand at the spot market mainly pushed up the futures prices.

Published on April 28, 2011

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