01/11/2013 (Business Standard) - Crude palm oil prices rose by 0.35% to Rs 561.50 per 10 kg in futures trade today as speculators created fresh positions on expectations of pick up in spot market demand amid firming overseas cues.

At the Multi Commodity Exchange, crude palm oil for delivery in December rose Rs 2, or 0.35%, to Rs 561.50 per 10 kg, with a business turnover of 56 lots.

The oil for November delivery rose by Rs 1.90, or 0.33%, to Rs 561.40 per 10 kg, with trading volume of 243 lots.

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

Globally, palm oil advanced 1% to $816 a tonne on the Malaysian Derivatives Exchange.