MARKET DEVELOPMENT
Crude Palm Oil Futures Remain up on Rising Demand
Crude Palm Oil Futures Remain up on Rising Demand
12/05/2017 (Outlook Business) - Continuing its rising streak for the fourth day, crude palm oil advanced 0.14 per cent to Rs 498.50 per 10 kg in futures market today as speculators enlarged their positions amid a firm trend at spot markets.
At the MULTI COMMODITY EXCHANGE, crude palm oil for delivery in May month edged up by 70 paise, or 0.14 per cent to Rs 498.50 per 10 kg in business turnover of 165 lots.
Likewise, the oil for delivery in June month contracts edged up by 10 paise, or 0.02 per cent to Rs 487.50 per 10 kg in 49 lots.
Analysts said expanding of positions by participants on the back of surging demand in the spot market against tight stocks position on fall in supplies from producing regions mainly kept crude palm oil prices higher at futures trade.
At the MULTI COMMODITY EXCHANGE, crude palm oil for delivery in May month edged up by 70 paise, or 0.14 per cent to Rs 498.50 per 10 kg in business turnover of 165 lots.
Likewise, the oil for delivery in June month contracts edged up by 10 paise, or 0.02 per cent to Rs 487.50 per 10 kg in 49 lots.
Analysts said expanding of positions by participants on the back of surging demand in the spot market against tight stocks position on fall in supplies from producing regions mainly kept crude palm oil prices higher at futures trade.