Crude palm oil futures up 0.36 pc on spot demand

Crude palm oil prices rose by 0.36 per cent at Rs 572.50 per 10 kg in futures trade today as traders created fresh positions, supported by pick-up in demand at the spot market amid firm global cues.
Besides, restricted supplies from the producing belts supported the uptrend in the crude palm oil prices.
In futures trading at the Multi Commodity Exchange, crude palm oil for delivery in February contract rose by Rs 2.10, or 0.36 per cent, to Rs 572.50 per 10 kg, in a business turnover of 310 lots.
Similarly, the oil for this month contract was trading higher by 0.90 paise, or 0.16 per cent, to Rs 560.50 per 10 kgs in 147 lots.

Analysts said the rise in crude palm oil prices was mostly due to building up of positions by speculators, driven by a firming trend in the global market.