Crude palm oil up 0.4% on spot demand

Market analysts said fresh positions created by speculators after pick up in demand in the spot market helped crude palm oil prices to trade higher

Crude palm oil rose by 0.45% to Rs 535.90 per 10 kg in futures trade today as traders and speculators created positions, driven by pick up in spot market demand.

At the Multi Commodity Exchange, crude palm oil for delivery in October month rose by Rs 2.40, or 0.45%, to Rs 535.90 per 10 kg in business turnover of 106 lots.

Similarly, the oil for delivery in November traded higher by the same margin to Rs 535.50 per 10 kg in 188 lots.

Market analysts said fresh positions created by speculators after pick up in demand in the spot market mainly helped crude palm oil prices to trade higher in futures trade.