Crude palm oil marginally up by 0.2% on better spot demand

Crude palm oil for delivery in September edged up by 0.06%

Crude palm oil prices were marginally up by Rs 1.40 to Rs 544.90 per 10 kg in futures market today after speculators built up fresh positions, tracking a firm trend at spot market on better demand.

At the Multi Commodity Exchange, crude palm oil for delivery in August month traded higher by Rs 1.40, or 0.26%, to Rs 544.90 per 10 kg in business turnover of 761 lots.

Likewise, the oil for delivery in September edged up by 30 paise, or 0.06% to Rs 540.10 per 10 kg in 640 lots.

Market analysts said fresh positions created by speculators supported by a firm trend at spot market on better demand mainly helped crude palm oil prices to trade marginally higher at futures trade.