Crude palm oil up 1.1% on rising spot demand

Crude palm oil gained 1.16% to  Rs 569 per 10 kg in futures trade today as speculators engaged in expanding positions, driven by rising demand in spot market.

At the Multi Commodity Exchange, crude palm oil for delivery in November gained Rs 6.50, or 1.16% to Rs 569 per 10 kg in business turnover of 168 lots.

 Likewise, the oil delivery in December traded higher by Rs 6.30, or 1.12% to Rs 570.10 per 10 kg in 202 lots.

Analysts attributed the rise in crude palm oil futures to rising demand at spot demand.