Crude palm oil prices moved up by 0.60 per cent to Rs 488.70 per 10 kg in evening session in futures trade today as participants built up fresh positions, tracking a firm trend overseas.
The exchange remained closed for the morning session on account of ‘Maha Shivratri’. At the Multi Commodity Exchange, crude palm oil for delivery in March month moved up by Rs 2.90, or 0.60 per cent to Rs 488.70 per 10 kg in business turnover of 743 lots.
On similar lines, the oil for delivery in April traded higher by Rs 2.50, or 0.51 per cent to Rs 491.70 per 10 kg in 290 lots.
Analysts said building up of positions by traders in line with a firming global trend mainly led to rise in crude palm oil prices at futures trade.
Meanwhile, palm oil futures for May delivery trading 1.3 per cent higher at 2,540 ringgit (USD 621) a metric tonne on Bursa Malaysia Derivatives.