Crude palm oil futures up 0.31% on spot demand

Crude palm oil prices moved up by 0.31 per cent to Rs 542.70 per 10 kg in futures market today as speculators raised their bets coupled with rising demand in spot market.
At the Multi Commodity Exchange, crude palm oil for delivery in June rose Rs 1.70, or 0.31 per cent, to Rs 542.70 per 10 kg, in a business turnover of 181 lots.
Similarly, oil for delivery in May edged up by Rs 1.20, or 0.22 per cent, to Rs 547 per 10 kg in 69 lots.
Analysts said fresh positions built-up by speculators supported by rising demand in the spot market, mainly led to the rise in crude palm oil prices at futures trade.