Crude palm oil rises on fresh buying support

PTI New Delhi | Updated on February 03, 2011

Crude palm oil prices rose marginally by Re one to Rs 594.30 per 10 kg at the futures trade today, as speculators enlarged their positions, supported by a pick-up in demand at the spot market.

At the Multi Commodity Exchange counter, crude palm oil for March contract inched up by Re one or 0.17 per cent to Rs 594.30 per 10 kg with a business turnover of 50 lots.

Likewise, the oil for delivery in February gained 70 paise or 0.12 per cent to Rs 588.70 per 10 kg with a business turnover of five lots.

Market analysts said fresh buying by speculators, driven by strong demand at the spot markets led to the rise in crude palm oil futures prices.

Published on February 03, 2011

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