Crude palm oil futures recover on spot demand

Crude palm oil prices recovered by Rs 2.70, or 0.65 per cent, to Rs 416.90 per 10 kg in futures market today, as speculators created fresh positions after an improvement in demand in the spot market.  

At the Multi Commodity Exchange platform, crude palm oil for September delivery recovered by Rs 2.70, or 0.65 per cent, to Rs 416.90 per 10 kg, with an open interest of 2,778 lots.  

Similarly, the oil for delivery in October gained Rs 2.30, or 0.56 per cent, to Rs 412.60 per 10 kg, with an open interest of 2,078 lots.

Analysts said fresh positions created by speculators on pick up in demand in the spot market led to a recovery in crude palm oil at futures market.