Breaking News:

Crude palm oil futures gain 0.61% as demand picks up

NEW DELHI, Jan 1: Crude palm oil prices were up 0.61 per cent at Rs 559.50 per 10 kg in futures trade today as speculators built up fresh positions, taking positive cues from

spot market on pick up in demand.

At the Multi Commodity Exchange, crude palm oil for delivery in January rose Rs 3.40, or 0.61 per cent, to Rs 559.50 per 10 kg in business turnover of 44 lots.

Similarly, the oil for delivery February contracts traded higher by Rs 3.10, or 0.55 per cent, to Rs 562.50 per 10 kg in 4 lots.

Analysts said fresh positions created by participants after uptick in demand in the spot market against tight stocks position due to restricted supplies from producing regions led to the rise in crude palm oil prices in futures trade. (PTI)

related-video

Download Daily Excelsior Apps Now:

google-play-store-badgeappstore_button

Share With
This entry was posted in Business. Bookmark the permalink.