Crude palm oil futures up on global cues

PTI New Delhi | Updated on June 03, 2011

Crude palm oil futures prices rose Rs 3.60 to Rs 535.40 per 10 kg today as speculators enlarged their positions on the back of a firming trend in the overseas markets.

At the Multi Commodity Exchange, crude palm oil for delivery in July rose Rs 3.60 or 0.68 per cent to Rs 535.40 per 10 kg with a business turnover of 172 lots. Similarly, June contract traded higher by Rs 2.80 or 0.53 per cent to Rs 534.00 per 10 kg with a trade volume of 117 lots.

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

Meanwhile, palm oil for August delivery rose 1.4 per cent to $1,145 a tonne on the Malaysia Derivatives Exchange. PTI

Published on June 03, 2011

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