10/11/2011 (Business Standard) - Crude palm oil prices rose by 0.57% to Rs 487 per 10 kg in futures trade today as speculators indulged in creating fresh positions on expectations of rise in demand due to the marriage season.

A firming trend in overseas markets also influenced the crude palm oil prices at futures market.

At the Multi Commodity Exchange, November crude palm oil rose by Rs 2.80, or 0.57%, to Rs 487 per 10 kg, with a trading volume of 64 lots.

For delivery in January, crude palm oil gained Rs 2.60, or 0.53%, to Rs 489.90 per 10 kg, with a trade volume of 13 lots.

The December contract moved up by Rs 2.40, or 0.49%, to Rs 488.30 per 10 kg, with a business volume of 139 lots.

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

In Malaysia, palm oil advanced by 1.3% to $937 a tonne.