Crude palm oil up 0.3% as demand picks up

Oil for delivery in October edged up by 0.24%

Crude palm oil prices rose by 0.36% to Rs 536.90 per 10 kg in futures trade today as speculators created positions supported by a rise in demand in the spot market.

At the Multi Commodity Exchange, crude palm oil for delivery in November moved up by Rs 1.90, or 0.36%, to Rs 536.90 per 10 kg in business turnover of 97 lots.

Similarly, the oil for delivery in October edged up by Rs 1.30, or 0.24%, to Rs 539.60 per 10 kg in 24 lots.

Market analysts said speculators created positions due to rise in the spot market demand mainly attributed rise in crude palm oil prices at futures trade.