Crude palm oil up on strong spot demand

Crude palm oil futures prices were up by Rs 1.90 to Rs 547.50 per 10 kg today due to pick-up in spot demand in view of marriage season.

At the Multi Commodity Exchange, crude palm oil for delivery in March traded higher by Rs 1.90, or 0.35% to Rs 547.50 per 10 kg in business turnover of 304 lots.

Likewise, the oil for delivery in February contract edged up by Rs 1.40, or 0.26% to Rs 535 per 10 kg in 75 lots.

Market analysts said pick-up in spot demand on the back of marriage season mainly influenced crude palm oil prices to went up at futures trading.