Crude palm oil futures remain up on rising spot demand

Crude palm oil prices rose further by 0.51 per cent to Rs 437.50 per 10 kg in futures trade today as speculators enlarged positions on the back of rising demand in the spot market.
The exchange opened for the evening session as it remained closed in the morning for Baba Saheb Ambedkar Jayanti.
At the Multi Commodity Exchange, crude palm oil for delivery in May month rose by Rs 2.20 or 0.51 per cent to Rs 437.50 per 10 kg in business turnover of 94 lots.
Similarly, the oil for delivery in April contracts edged up by Rs 1.10 or 0.48 per cent to Rs 435.90 per 10 kg in 51 lots.

Analysts said speculators enlarged positions due to rising demand in the spot market against restricted supplies from producing belts mainly kept crude palm oil prices higher at futures trade.