Crude palm oil futures marginally up on spot demand

Crude palm oil prices moved up marginally by Rs 1.50 to Rs 486.50 per 10 kg in futures trade today as speculators created fresh positions on the back of a rise in spot market demand.  

On the Multi Commodity exchange, crude palm oil for delivery in August rose by Rs 1.50, or 0.30%, to Rs 486.50 per 10 kg, with a business turnover of 250 lots.   

The oil for delivery in July gained Rs 1.40, or 0.28%, to Rs 486.20 per 10 kg, with an open interest of 379 lots. 

Similarly, the oil for delivery in June edged up by 80 paise, or 0.16%, to Rs 486.10 per 10 kg in 45 lots. 

 

Analysts said fresh buying by speculators on the back of pick-up in spot market demand mainly pushed up crude palm oil futures prices.