Commodities

Crude palm oil futures up

PTI New Delhi | Updated on March 04, 2011

Crude palm oil futures prices rose by Rs 9.30 to Rs 553 per 10 kg today, as speculators created fresh positions on expectations of a firm trend in the spot markets.

A firm trend in the overseas markets also influenced futures prices.

On the Multi Commodity exchange, crude palm oil for delivery in May rose by Rs 9.30 or 1.71 per cent to Rs 553 a kg, with a business volume of 60 lots.

Similarly, the oil for delivery in April surged by Rs 8.80 or 1.61 per cent to Rs 552.50 per 10 kg, with an open interest of 207 lots.

The oil for delivery in March went up by Rs 8.70 or 1.60 per cent to Rs 552.40 per 10 kg, with a business volume of 132 lots.

Analysts said fresh buying by speculators on hopes of pick up in spot demand due to the ongoing marriage season, led to the rise in crude palm oil futures prices.

Published on March 04, 2011

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