MARKET DEVELOPMENT
Crude Palm Oil Prices up 0.5% in Futures Trade
Crude Palm Oil Prices up 0.5% in Futures Trade
23/12/2015 (Business Standard) - Crude palm oil prices rose 0.48% to Rs 412 per 10 kg in futures trading today as participants indulged in creating positions, driven by pick up in demand in the spot market.
Further, firming trend in the overseas market too fuelled the uptrend.
At the Multi Commodity Exchange, crude palm oil for delivery in January 2016 rose Rs 2, or 0.48%, to Rs 412 per 10 kg in a business turnover of 56 lots.
Likewise, the oil for delivery in December was trading higher by Rs 1.90, or 0.47%, to Rs 401.80 per 10 kg in 40 lots.
Analysts said building up of positions by speculators backed by pick up in demand in the spot market and a firming trend in the overseas market mainly led to the rise in crude palm oil prices at the futures trade.
Further, firming trend in the overseas market too fuelled the uptrend.
At the Multi Commodity Exchange, crude palm oil for delivery in January 2016 rose Rs 2, or 0.48%, to Rs 412 per 10 kg in a business turnover of 56 lots.
Likewise, the oil for delivery in December was trading higher by Rs 1.90, or 0.47%, to Rs 401.80 per 10 kg in 40 lots.
Analysts said building up of positions by speculators backed by pick up in demand in the spot market and a firming trend in the overseas market mainly led to the rise in crude palm oil prices at the futures trade.