Crude palm oil futures up 0.47%

Supported by a pick-up in spot demand, crude palm oil futures prices rose by 0.47% to Rs 490.30 per 10 kg today. 

At the Multi Commodity exchange, crude palm oil for August delivery rose by Rs 2.30, or 0.47%, to Rs 490.30 per 10 kg, with a business turnover of 164 lots.

Likewise, the oil for September delivery edged up by Rs 2.20, or 0.45%, to Rs 490 per 10 kg, with a trade volume of 124 lots.

Analysts said increased buying by speculators on the back of pick-up in demand at the spot market mainly helped crude palm oil futures prices to trade higher.