02/08/2011 (Business Standard) - Buoyed by a firming trend in the global markets, crude palm oil prices rose by Rs 2.10 to Rs 488 per 10 kg in futures trading today.

A better trend at the spot markets on pick-up in demand also supported the uptrend.

At the Multi Commodity Exchange, August delivery rose by Rs 2.10, or 0.43%, to Rs 488 per 10 kg, with a business turnover of 62 lots.

September delivery moved up by Rs 2, or 0.41%, to Rs 488 per 10 kg, with an open interest of 60 lots.

Analysts said besides a firming overseas trend, pick-up in spot market demand led to the rise in crude palm oil futures prices.

Meanwhile, palm oil for the October contract advanced by 0.8% to $1,060 a tonne on the Malaysia Derivatives Exchange.