Crude palm oil futures trade higher on spot demand

Crude palm oil traded higher by Rs 1.80 to Rs 410.80 per 10 kg in futures market today as speculators created fresh positions after a rise in demand at spot markets.

At the Multi Commodity Exchange counter, crude palm oil for November-month rose by Rs 1.80, or 0.44 per cent, to Rs 410.80 per 10 kg, with a business turnover of one lot. 

Similarly, the oil for delivery in October-month edged up by Rs 1.30, or 0.32 per cent, to Rs 410.60 per 10 kg, with a business volume of two lots.   

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