Crude palm oil prices rose further by 5.20 to Rs 508.70 per 10 kg at the futures trade today as speculators created fresh positions on the back of a rise in demand at the spot market amid low stocks.
Restricted arrivals from the overseas markets also put pressure on prices at the futures trade.
At the Multi Commodity exchange, crude palm oil for delivery in July rose Rs 5.20 or 1.01 per cent to Rs 508.70 per 10 kg with a business volume of three lots.
The oil for delivery in June traded higher by Rs 4.40 or 0.85 per cent to Rs 510.60 per 10 kg with an open interest of 11 lots. Similarly, May contract edged up by Rs 4.20 or 0.81 per cent to Rs 512.80 per 10 kg with a business turnover of 76 lots.
Analysts said fresh buying by speculators on the back of pick-up in demand at the spot market mainly pushed up the crude palm oil futures prices.
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