Crude palm oil marginally up on spot demand
Crude palm oil prices marginally up by Rs 2.70 to Rs 486.90 per 10 kg in futures trade today as speculators created fresh positions on the back of a rise in spot market demand.
On the Multi Commodity exchange, crude palm oil for delivery in October rose by Rs 2.70, or 0.56%, to Rs 486.90 per 10 kg, with business volume of five lots.
The oil for delivery in August added Rs 2.50, or 0.52%, to Rs 486.80, with a business turnover of 118 lots. Similarly, for July delivery, its prices moved up by Rs 2.50, or 0.52%, to Rs 487.20 per 10 kg, with a business turnover of 45 lots.
Analysts said fresh buying by speculators on the back of pick-up in demand in the spot market mainly pushed up crude palm oil futures prices.