Crude palm oil marginally up in futures trade on spot demand

Crude palm oil futures traded marginally higher by Rs 2.40 to Rs 533.60 per 10 kg today on pick-up in demand in the spot markets amid a firming global trend.
At the Multi Commodity Exchange, crude palm oil for delivery in February rose Rs 2.40, or 0.45 per cent, to Rs 533.60 per 10 kg, with a trading volume of 184 lots.
Likewise, the oil for delivery in January delivery higher by Rs 1.20, or 0.22 per cent, to Rs 527.30 per 10 kg, with a business volume of 160 lots.
Market analysts said apart from a firming trend overseas, pick-up in the spot demand at domestic markets, influenced crude palm oil futures prices.

Meanwhile, palm oil for the April contract gained 0.80 per cent to 2,563 ringgit (USD 766) a tonne on the Malaysia Derivatives Exchange.