Crude palm oil futures recover 0.58% on spot demand

Crude palm oil prices recovered by 0.58 per cent to Rs 568.50 per 10 kg in futures market today as speculators indulged in creating fresh positions, taking positive cues from spot market on pick up in demand.
At the Multi Commodity Exchange, crude palm oil for delivery in February moved up by Rs 3.30, or 0.58 per cent, to Rs 568.50 per 10 kg, in a business turnover of 43 lots.
Likewise, the oil for delivery in March was up by Rs 2.40, or 0.43 per cent, to Rs 559.50 per 10 kg in nine lots.
Analysts said fresh positions created by participants amid uptick in demand in the spot market against tight stocks position on fall in supplies from producing regions mainly led to the rise in crude palm oil prices at futures trade.