MARKET DEVELOPMENT
Crude Palm Oil Futures up on Global Cues
Crude Palm Oil Futures up on Global Cues
31/07/2013 (Economic Times) - Supported by a firming trend overseas, crude palm oil prices up by Rs 9 to Rs 498.50 per 10 kg in futures trade today.
At the Multi Commodity Exchange, crude palm oil for delivery in August rose by Rs 9, or 1.83 per cent, to Rs 498.50 per 10 kg, with a business turnover of 530 lots.
Oil prices for July contract increased by Rs 1.50, or 0.32 per cent, to Rs 497.60 per 10 kg with a volume of 94 lots.
In Malaysia, palm oil gained as much as 1.40 per cent to 2,245 ringgit (USD 691) a tonne on the Malaysia Derivatives Exchange.
Market analysts said fresh buying by traders, influenced by a firming global trend mainly helped crude palm oil prices to trade higher at futures trade.
At the Multi Commodity Exchange, crude palm oil for delivery in August rose by Rs 9, or 1.83 per cent, to Rs 498.50 per 10 kg, with a business turnover of 530 lots.
Oil prices for July contract increased by Rs 1.50, or 0.32 per cent, to Rs 497.60 per 10 kg with a volume of 94 lots.
In Malaysia, palm oil gained as much as 1.40 per cent to 2,245 ringgit (USD 691) a tonne on the Malaysia Derivatives Exchange.
Market analysts said fresh buying by traders, influenced by a firming global trend mainly helped crude palm oil prices to trade higher at futures trade.