Crude palm oil futures rise on pick-up in demand

Crude palm oil prices moved up by Rs 2.50 to Rs 465 per 10 kg in futures trade today due to a pick-up in demand in the spot market.

At the Multi Commodity Exchange, crude palm oil for delivery in October moved up by Rs 2.50, or 0.54%, to Rs 465 per 10 kg, with a business turnover of 57 lots.

Similarly, for November contract delivery crude oil was trading higher by Rs 1.90, or 0.41%, at Rs 462.40 per 10 kg in 25 lots.

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