Crude palm oil futures up on spot demand

Crude palm oil prices traded marginally higher by 0.15% to Rs 520.50 per 10 kg in futures trade today as speculators created fresh positions due to pick-up in demand in the spot market. 

On the Multi Commodity exchange, crude palm oil for delivery in May rose by 80 paise, or 0.15% to Rs 520.50 per 10 kg, with a business turnover of two lots.   

Likewise, the oil for delivery in June edged up by 70 paise, or 0.14% to Rs 517.10 per 10 kg, with a business turnover of a single lot.  

Analysts said fresh buying by speculators on the back of pick-up in spot market demand, mainly pushed up crude palm oil futures prices.