Crude palm oil rises by 0.3% as demand picks up

Crude palm oil prices were up by 0.32% to Rs 438.50 per 10 kg in futures trade today as speculators indulged in creating fresh positions supported by improved demand in the spot market.

Crude palm oil for delivery in May month edged up by Rs 1.40 or 0.32% to Rs 438.50 per 10 kg in business turnover of 278 lots at the Multi Commodity Exchange.

Similarly, the oil for delivery in April contracts traded higher by 40 paise or 0.09% to Rs 435 per 10 kg in 42 lots.

Analysts attributed the rise in crude palm oil prices to rising demand in the spot markets.