Crude palm oil futures up on spot demand

Crude palm oil prices traded higher by Rs 2.90 to Rs 525.30 per 10 kg in futures market today on pick-up in demand in the spot market following marriage season.

At the Multi Commodity Exchange, crude palm oil for delivery in January rose by Rs 2.90, or 0.56% to Rs 525.30 per 10 kg in business turnover of 153 lots.

Likewise, the oil for delivery in February edged higher by Rs 2.60, or 0.50%, to Rs 527.70 per 10 kg with business volume of 434 lots.

Analysts attributed to rise in crude palm oil futures to pick-up in demand in the spot market supported by marriage season.