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Buoyed by a firm global trend and pick-up in domestic demand,crude palm oil prices rose by Rs 4.30 to Rs 421.70 per 10 kg in futures trade today.
At the Multi Commodity Exchange,crude palm oil for delivery in October rose by Rs 4.30,or 1.03 per cent to Rs 421.70 per kg 10 kg in business turnover of 332 lots. Similarly,the oil for delivery in November edged up by Rs 4.10,or 0.97 per cent,to Rs 427.50 per 10 kg in 615 lots.
Market analysts attributed the rise in crude palm oil futures to on pick up in demand in the spot market amid a firm global trend.
Meanwhile,palm oil for the contract for December delivery gained 2.2 per cent to USD 813 a tonne on the Malaysia Derivatives Exchange.