Crude palm oil up 0.2% on spot demand

Oil for delivery in July moved up marginally by 0.14%

Crude palm oil prices marginally up by Rs 1.30 to Rs 522.50 per 10 kg in futures trade today as speculators created fresh positions on the back of rising spot demand.

On the Multi Commodity Exchange, crude palm oil for August delivery rose by Rs 1.30, or 0.24%, to Rs 522.50 per kg, with a trading volume of 39 lots.

Similarly, the oil for delivery in July moved up marginally by 0.80 paise, or 0.14%, to Rs 540 per 10 kg, with a business turnover of 116 lots.

Analysts said fresh positions built-up by speculators driven by rising spot demand, mainly led to the rise in crude palm oil prices at futures market.