Crude palm oil futures up by over 1 per cent

Crude palm oil prices were up by 1.14 per cent to Rs 523.20 per 10 kg in futures trade today as speculators indulged in enlarging positions, driven by a firm demand at the spot market.
Besides, a firming trend in overseas markets supported the uptrend.
At the Multi Commodity Exchange, crude palm oil for delivery in December rose by Rs 5.90 or 1.14 per cent to Rs 523.20 per 10 kg in business turnover of 190 lots.
Similarly, the oil for delivery in November contracts went up by Rs 5 or 0.97 per cent to Rs 521.90 per 10 kg in 488 lots.

Analysts said widening of positions by participants driven by pick up in demand in the spot market against tight stocks position on restricted supplies from producing regions mainly kept crude palm oil prices higher at futures trade.