Crude palm oil marginally up on spot demand

Benchmark contract up over 1% on the MCX

Crude palm oil prices today rose marginally by Rs 7 to Rs 557 per 10 kg in futures trade, supported by a pick-up in spot market demand amid low stocks.

On the MCX, crude palm oil for June delivery rose by Rs 7, or 1.27%, to Rs 557 per 10 kg, with a trading volume of 459 lots.

Similarly, the oil for delivery in July moved up by Rs 6.90, or 1.25%, to Rs 557.40 per 10 kg, with a business turnover of 273 lots.

Analysts attributed rise in crude palm oil prices at futures trade to rising spot demand.