NEW DELHI, June 20: Amid rising domestic demand and a firm global trend, crude palm oil gained 1.06 per cent to Rs 512.60 per 10 kg in futures trade today as speculators enlarged positions.
At the Multi Commodity Exchange, crude palm oil for delivery in July gained Rs 5.40, or 1.06 per cent, to Rs 512.60 per 10 kg in business turnover of 287 lots.
Similarly, the oil for delivery in the June contract moved up by Rs 5.10, or 1.01 per cent, to Rs 510.40 per 10 kg in 168 lots.
Analysts attributed the rise in crude palm oil futures to pick-up in demand in the spot market and firming global trend as exports from Malaysia, the world’s second-largest producer, increased ahead of the Muslim fasting month of ‘Ramadan’.
Meanwhile, palm oil for September delivery gained 0.7 per cent to USD 778 a metric tonne on the Bursa Malaysia Derivatives. (PTI)
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