NEW DELHI, May 7: Crude palm oil prices were up by 1.27 per cent to Rs 650 per 10 kg in futures trade today as speculators widened their positions amid a firm demand at the spot market.
Besides, a firming trend in overseas markets supported the uptrend.
At the Multi Commodity Exchange, crude palm oil for this month contract rose by Rs 8.20, or 1.27 per cent, to Rs 650 per 10 kg, in a business turnover of 329 lots.
Similarly, the oil for delivery in June contract went up by Rs 5.80 or 0.90 per cent, to Rs 647.80 per 10 kg in 190 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. (PTI)
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