NEW DELHI, Aug 9: Crude palm oil prices edged up by 0.62 per cent to Rs 490.30 per 10 kg in futures market today as speculators engaged in enlarging positions, supported by pick-up in demand at the spot market.
Moreover, a tight stock position because of fall in supplies from producing belts fuelled the uptrend.
At the Multi Commodity Exchange, crude palm oil for delivery in current month edged higher by Rs 3, or 0.62 per cent, to Rs 490.30 per 10 kg in a business turnover of 435 lots.
Likewise, the oil for delivery in September contract was up by Rs 2.30, or 0.47 per cent, to Rs 490.10 per 10 kg in 80 lots.
Analysts said widening of positions by participants on the back of surging demand in the physical markets, mainly kept crude palm oil prices higher at futures trade. (PTI)
Trending Now
E-Paper
Follow our WhatsApp channel