03/04/2012 (Economic Times) -  Crude palm oil prices rose by Rs 8.30 to Rs 618 per 10 kg in futures trade today as speculators created fresh positions on expectations of pick up in spot market demand amid a firming global trend.

On the Multi Commodity Exchange, crude palm oil for May delivery rose by Rs 8.30, or 1.36 per cent, to Rs 618 per kg, with a trading volume of 376 lots.

Similarly, the oil for delivery in April moved up by Rs 7.30, or 1.20 per cent, to Rs 614.40 per 10 kg, with a business turnover of 197 lots.

Analysts said fresh buying by speculators on hopes of pick-up in spot market demand, mainly led to a rise in crude palm oil prices at futures market.

Meanwhile, in Malaysia, the June-delivery contract climbed 2.7 per cent to 3,527 ringgit (USD 1,154) a metric ton on the Malaysia Derivatives Exchange.