Crude palm oil up 0.3% on spot demand

Oil for delivery in October edged up by 0.02%

Crude palm oil prices were up by 0.34% to Rs 525.60 per 10 kg in futures trading today as speculators created fresh positions supported by an improvement in demand in the spot market.

At the Multi Commodity Exchange, crude palm oil for delivery in September traded higher by Rs 1.80 or 0.34% to Rs 525.60 per 10 kg in business turnover of 92 lots.

Similarly, the oil for delivery in October edged up by 10 paise or 0.02% to Rs 516.10 per 10 kg in 273 lots.

Analysts said fresh positions built-up by speculators supported by rising demand in the spot market mainly influenced crude palm oil prices at futures trade.