Crude palm oil futures extend gain, up 1.35 per cent on strong demand

At the Multi Commodity Exchange, crude palm oil for delivery in October month rose by Rs 7.60, or 1.35 per cent to Rs 572.20 per 10 kg in business turnover of 227 lots.

By: PTI | New Delhi | Published:September 20, 2016 11:46 am

Maintaining its rising streak for the third straight day, crude palm oil prices advanced by 1.35 per cent to Rs 572.20 per 10 kg in futures trade today as participants engaged in enlarging their positions. At the Multi Commodity Exchange, crude palm oil for delivery in October month rose by Rs 7.60, or 1.35 per cent to Rs 572.20 per 10 kg in business turnover of 227 lots.

Similarly, the oil for delivery in September contracts traded higher by Rs 7.30, or 1.26 per cent to Rs 588 per 10 kg in 265 lots.

Analysts said widening of positions by traders, driven by strong demand in the spot market against restricted supplies from producing regions, mainly kept crude palm oil prices higher at futures trade.