Crude palm oil futures up on global cues

PTI New Delhi | Updated on June 02, 2011

Crude palm oil prices rose by Rs 1.80 to Rs 528.20 per 10 kg in futures trading today as speculators enlarged their positions on the back of a firming trend in the overseas market.

At the Multi Commodity Exchange, crude palm oil for delivery in August rose by Rs 1.80 or 0.34 per cent to Rs 528.20 per 10 kg, with a business turnover of eight lots.

Similarly, the oil for delivery in June traded higher by 30 paise or 0.06 per cent to Rs 527 per 10 kg in 53 lots.

Analysts said besides a firming trend in the overseas markets, pick up in spot market demand also attributed to the rise in crude palm oil futures prices.

Meanwhile, palm oil for August delivery advanced 0.4 per cent to $1,115 a tonne on the Malaysia Derivatives Exchange.

Published on June 02, 2011

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