Crude palm oil remains up, gain 0.15% on rising demand

Crude palm oil prices advanced by 0.15 per cent to Rs 478.20 per 10 kg in futures trade today as speculators engaged in building up positions, tracking a firm trend at spot market on surging demand.

Besides, tight stocks position on fall in supplies from producing belts too fuelled the uptrend.

At the Multi Commodity Exchange, crude palm oil for delivery in August traded higher by 70 paise, or 0.15 per cent, to Rs 478.20 per 10 kg, in a business turnover of 45 lots.

Similarly, the oil for delivery in July was enquired higher by 50 paise, or 0.10 per cent, to Rs 485.40 per 10 kg in 109 lots.

Analysts said expanding of positions by participants on the back of rising demand in the spot market against tight stocks position on restricted supplies from producing regions mainly kept crude palm oil prices higher at futures trade.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)