Crude palm oil up 0.2% on spot demand

Analysts attributed the rise to to fresh positions created by speculators on rising demand in spot market

Crude palm oil prices rose by 0.28% to Rs 566.30 per 10 kg in futures trade today as speculators created fresh positions on the back of rising demand in spot market.

At the Multi Commodity Exchange, crude palm oil for December delivery rose by Rs 1.60, or 0.28%, to Rs 566.30 per 10 kg, with a trading volume of 87 lots.

Similarly, the oil for delivery in January moved up by Rs 1.30, or 0.22%, to Rs 569.70 per 10 kg, with a business turnover of 61 lots.

Analysts said the rise in crude palm oil prices at futures trade was mostly attributed to fresh positions created by speculators on rising demand in spot market.