Crude palm oil futures up 0.48% on spot demand

Dec 24 2012, 13:31 IST
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SummaryCrude palm oil rose by 0.76 per cent to Rs 421.20 per 10 kg in futures trade.

Crude palm oil rose by 0.76 per cent to Rs 421.20 per 10 kg in futures trade today on pick-up in spot markets demand amid firm global trend.

At the Multi Commodity Exchange, crude palm oil for delivery in January rose by Rs 3.20, or 0.76 per cent, to Rs 421.20 per 10 kg with a trading volume of 397 lots.

Likewise, the oil for delivery in December rose by Rs 2.60, or 0.63 per cent, to Rs 411 per 10 kg, with a business volume of 242 lots.

Analysts said apart from a firming trend overseas, pick- up in the spot demand mainly helped crude palm oil futures prices.

Meanwhile, palm oil gained 1.2 per cent to 795 dollar a tonne on the Malaysia Derivatives Exchange.

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