MARKET DEVELOPMENT
Festive Season Demand Lifts Crude Palm Oil Futures
Festive Season Demand Lifts Crude Palm Oil Futures
18/08/2015 (Business Standard) - Supported by festive season demand at the spot markets, crude palm oil prices rose 0.86 per cent to Rs 396.90 per 10 kg in futures trade today.
At the Multi Commodity Exchange, crude palm oil for September gained Rs 3.40, or 0.86 per cent, to Rs 396.90 per 10 kg, with a trading volume of 228 lots.
Similarly, the oil for delivery in August edged higher by Rs 3.10, or 0.79 per cent, to Rs 392.90 per 10 kg, with a business volume of 162 lots.
Analysts said the rise in crude palm oil prices in futures trade was mostly attributed to fresh positions built up by speculators, triggered by festive season.
At the Multi Commodity Exchange, crude palm oil for September gained Rs 3.40, or 0.86 per cent, to Rs 396.90 per 10 kg, with a trading volume of 228 lots.
Similarly, the oil for delivery in August edged higher by Rs 3.10, or 0.79 per cent, to Rs 392.90 per 10 kg, with a business volume of 162 lots.
Analysts said the rise in crude palm oil prices in futures trade was mostly attributed to fresh positions built up by speculators, triggered by festive season.