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Crude palm oil prices gained Rs 2.90 to Rs 550.30 per 10 kg in futures trade today as speculators created fresh positions on the back of a firming trend in the spot market. At the Multi Commodity Exchange, crude palm oil for delivery in May gained Rs 2.90 or 0.53 per cent to Rs 550.30 a 10 kg, with a business volume of a single lot.
Similarly, the oil for delivery in March edged up by Rs 2.75 or 0.49 per cent to Rs 548.60 per 10 kg, with a business turnover of five lots.
Analysts said fresh buying by speculators on expectations of a rise in spot demand due to the ongoing marriage season helped prices to trade higher.
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