08/10/2010 (The Hindu Business Line), New Delhi - Crude palm oil strengthened by Rs 1.70 to Rs 415 per 10 kg in futures trade on Friday as speculators enlarged their positions on rising demand in the spot market, driven by festive and marriage season.

At the Multi Commodity Exchange counter, crude palm oil for December month gained Rs 1.70, or 0.41 per cent, to Rs 415 per 10 kg, with a business turnover of two lots.

In a similar fashion, the oil for delivery in October month edged up by Rs 1.20, or 0.29 per cent, to Rs 413.60 per 10 kg, with an open interest of two lots.

Traders said increased buying by speculators on rising demand in spot markets following ongoing festive season mainly led to a rise in crude palm oil prices at futures trade. - PTI