Crude palm oil rises marginally on spot demand

October contract rises 0.17%

Crude palm oil prices traded higher by 0.17% to Rs 408.10 per 10 kg in futures trade today as speculators created fresh positions, supported by improved demand in the spot market.

At the Multi Commodity Exchange, crude palm oil for delivery in October traded higher by 70 paise, or 0.17%, to Rs 408.10 per 10 kg, with a business turnover of 1,726 lots.

The November contract edged up by 10 paise, or 0.02%, to Rs 410.50 per 10 kg, with a business turnover of 1,717 lots.

Marketmen said fresh positions created by traders on the back of improved demand in the spot market helped crude palm oil prices to trade marginally higher at futures trade.