Crude palm oil futures gain 0.35% on firm demand

NEW DELHI, June 22: Crude palm oil prices went up by 0.35 per cent to Rs 627.40 per 10 kg in futures trade today as speculators widened their positions amid firm demand at the spot markets.

Further,  positive cues from overseas markets supported the upmove.

At the Multi Commodity Exchange, crude palm oil for July rose by Rs 2.20, or 0.35 per cent, to Rs 627.40 per 10 kg, in a business turnover of 25 lots.

Similarly, the oil for delivery this month went up by Rs 2 or 0.31 per cent, to Rs 631.20 per 10 kg in 33 lots.

Analysts said raising 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)