Crude palm oil up 0.83% on strong spot demand

Firm spot market trend pushed up the price

Crude palm oil January futures rose by Rs 3.70, or 0.83%, to Rs 446 per 10 kg in 247 lots.

At the Multi Commodity Exchange, the February contract moved up by Rs 2.10, or 0.46%, to Rs 452.90 per 10 kg in 351 lots.

Fresh positions by speculators, a firming trend in the spot market and pick-up in demand supported crude palm oil futures trade.

On the Malaysia Derivatives Exchange, the March contract climbed 0.7 % to 2,407 ringgit ($ 791) a tonne while dropping 4.4% in the four days through yesterday.