Crude palm oil futures rise 0.55% as demand picks up

Crude palm oil prices were up by 0.66% to Rs 440.40 per 10 kg in futures trade today as speculators indulged in creating fresh positions supported by pick up in demand in the spot market.

At the Multi Commodity Exchange (MCX), crude palm oil for delivery in April rose by Rs 2.90 or 0.66% to Rs 440.40 per 10 kg, in business turnover of 30 lots.

Likewise, oil for delivery in May rose by Rs 1.10 or 0.25% to Rs 440 per 10 kg, in 20 lots.

Analysts said speculators creating fresh positions driven by pick up in demand in spot market led to rise in crude palm oil prices at futures trade.