Crude palm oil up 0.35% on spot demand

July contract marginally rises by 0.11%

Crude palm oil futures prices today moved up by Rs 2 to Rs 567.60 per 10 kg in futures market today as speculators enlarged their positions, owing to a rise in demand in the spot market.

At the Multi Commodity Exchange, crude palm oil for delivery in August rose by Rs 2, or 0.35%, to Rs 567.60 per 10 kg in business turnover of 54 lots.

The July contract edged up by 60 paise, or 0.11%, to Rs 566 per 10 kg in 54 lots.

Market analysts said fresh positions created by speculators, driven by a pick up in demand in the spot market, led to the rise in crude palm oil futures.