Crude palm oil futures gain 0.51 pc on spot demand

NEW DELHI, June 20: Crude palm oil prices rose 0.51 per cent to Rs 629.20 per 10 kg in futures trade today as speculators enlarged their positions amid firm demand at the spot market.

Tight stocks position following pause in supplies also provided some support to crude palm oil prices.

At the Multi Commodity Exchange, crude palm oil for delivery in July month contract rose by Rs 3.20, or 0.51 per cent, to Rs 629.20 per 10 kg in a business turnover of 119 lots.

Similarly, the oil for delivery in the current month contract went up by Rs 2.90, or 0.46 per cent, to Rs 632 per 10 kg in 120 lots.

Analysts said widening of positions by participants amid pick up in demand at the spot market against tight stocks position mainly kept crude palm oil prices higher at futures trade. (PTI)