Crude palm oil futures rise on fresh buying

Crude palm oil futures prices rose by Rs 3.30 to Rs 561.10 per 10 kg today, as traders created fresh positions, followed by robust demand in the spot market.

At the Multi Commodity Exchange, crude palm oil for March delivery rose Rs 3.30, or 0.59 per cent to Rs 561.10 per 10 kg, with a business volume of single lot.

Similarly, the oil for delivery in January-month gained Rs 1.50, or 0.82 per cent, to Rs 549.40 per 10 kg, with a business turnover of two lots.

Marketmen said fresh buying by traders due to rise in demand in the spot market pushed up crude palm oil futures prices.