Crude palm oil marginally up by 0.3% on spot demand

Crude palm oil prices rose marginally by Rs 1.70 to Rs 498.40 per 10 kg in futures trade today as speculators created fresh positions, supported by a rise in demand in the spot market.

 

At the Multi Commodity Exchange, crude palm oil for delivery in August rose by Rs 1.70, or 0.34%, to Rs 498.40 per 10 kg in business turnover of 250 lots.

 

Similarly, the oil for delivery in July edged up by 30 paise, or 0.06%, to Rs 502.50 per 10 kg in 57 lots.

 

Analysts said fresh positions created by speculators after an improvement in demand in the spot market, helped crude palm oil prices to trade a shade higher at futures trade.