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Crude palm oil futures gains by 0.27 percent on demand

At the Multi Commodity Exchange, crude palm oil for this month rose by Rs 1.60 or 0.27 per cent to Rs 590.50 per 10 kg in a business turnover of 212 lots.


PTI Last Updated at 03-08-2018 11:46:18 IST India
Crude palm oil futures gains by 0.27 percent on demand
  • Crude palm oil prices went up by 0.27 per cent to Rs 590.50 per 10 kg in futures trade today as speculators widened their positions amid firm demand at the spot market. (Image Credit: PxHere)

Crude palm oil prices went up by 0.27 per cent to Rs 590.50 per 10 kg in futures trade today as speculators widened their positions amid firm demand at the spot market.

Besides, a positive trend in overseas markets supported the upmove.

At the Multi Commodity Exchange, crude palm oil for this month rose by Rs 1.60 or 0.27 per cent to Rs 590.50 per 10 kg in a business turnover of 212 lots.

Similarly, the oil for delivery in September went up by Rs 1.20 or 0.20 per cent to Rs 587.80 per 10 kg in 155 lots.

Analysts said widening of positions by participants amid pick up in spot demand against tight stocks position on restricted supplies from overseas markets mainly kept crude palm oil prices higher at futures trade.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


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