20/03/2012 (Economic Times) -  Crude palm oil futures prices rose by Rs 2.50 to Rs 583.80 per 10 kg today as speculators created fresh positions on the back of rising spot demand.

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

On the Multi Commodity Exchange, crude palm oil for May delivery up by Rs 2.50, or 0.43 per cent, to Rs 578.40 per kg, with a trading volume of 437 lots.

Similarly, the oil for delivery in April moved up by Rs 1.60, or 0.27 per cent, to Rs 578.40 per 10 kg, with a business turnover of 437 lots, while delivery in March inched up by Rs 1.30, or 0.22 per cent, to Rs 572.40 per 10 kg, with a trade volume of 77 lots.

Meanwhile, in Malaysia, June-delivery prices climbed 0.4 per cent to 3,412 ringgit (USD 1,117) a tonne on the Malaysia Derivatives Exchange.

Analysts said the rise in crude palm oil prices was mostly supported by rising demand at spot markets,apart from a firming trend overseas.