Crude palm oil futures up on spot demand

Crude palm oil prices moved up by Rs 3.40 to Rs 526.70 per 10 kg in futures trade today as speculators enlarged their positions on the back of rising spot market demand. 

At the Multi Commodity exchange, crude palm oil for delivery in May rose by Rs 3.40, or 0.65% to Rs 526.70 per 10 kg, with a business turnover of two lots. 

Likewise, the oil for delivery in June gained Rs 3.30, or 0.63% to Rs 523.90 per 10 kg, with a business volume of three lots.  

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