10/04/2012 (Economic Times) - Crude palm oil prices rose by Rs 3.40 to Rs 624 per 10 kg in futures trade today as speculators created fresh positions, supported by a rising demand at spot markets.

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 April delivery rose by Rs 3.40, or 0.54 per cent, to Rs 624 per 10 kg, with a trading volume of 176 lots.

Similarly, the oil for delivery in May rose by Rs 3.30, or 0.52 per cent, to Rs 629.10 per 10 kg, with a business turnover of 406 lots.

Analysts said the increase in crude palm oil prices was supported by a rising spot market demand and a firming trend in overseas markets.

In Malaysia, palm oil climbed as much as 0.5 per cent to USD 1,179 a tonne.