Crude palm oil futures up on good spot demand

Crude palm oil futures prices shot up by Rs 2.90, 0.67 per cent, to Rs 435.70 per 10 kg today, as speculators enlarged their positions rising demand for the festive season.

At the Multi Commodity Exchange platform, crude palm oil delivery for December gained Rs 2.90, or 0.67 per cent, to Rs 435.70 per 10 kg, with a business turnover of just one lot.

Similarly, the oil for delivery in October traded higher by Rs 1.30, or 0.30 per cent, to Rs 434 per 10 kg, with an open interest of just one lot.

Traders said increased buying by speculators on strong demand in spot markets led to a rise in  crude palm oil futures prices.