Crude palm oil futures up on firm demand

PTI New Delhi | Updated on May 12, 2011

Crude palm oil prices rose for the fourth consecutive day by adding another Rs 2.30 to Rs 518 per 10 kg at the futures trade today as speculators enlarged their positions, driven by a firming trend overseas and firm domestic demand.

At the Multi Commodity Exchange, crude palm oil for delivery in July added Rs 2.30 or 0.44 per cent to Rs 518 per 10 kg with a business turnover of four lots.

Similarly, the oil for delivery in June edged up by Rs 2.30 or 0.44 per cent to Rs 520.30 per 10 kg with a business volume of 18 lots. May contract rose 90 paise or 0.17 per cent to Rs 521.20 per kg with a trading volume of 13 lots.

Analysts said besides a firming trend in the overseas markets, pick-up in demand at the spot market mainly pushed up crude palm oil futures prices.

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Published on May 12, 2011
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