Crude palm oil futures gain 0.57%

Crude palm oil prices went up by 0.57 percent to Rs 603 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 contract rose by Rs 3.40, or 0.57 percent, to Rs 603 per 10 kg in a business turnover of 592 lots.

Similarly, the oil for delivery in September contract went up by Rs 2.20, or 0.37 percent, to Rs 600.50 per 10 kg in 276 lots.

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

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