Crude palm oil up 0.7% on spot demand

October contract rises 0.62%

Crude palm oil prices were marginally up by Rs 4.90 to Rs 562 per 10 kg in futures trade today as traders created fresh positions on the back of a firming spot demand.

At the Multi Commodity Exchange, crude palm oil for delivery in September rose by Rs 4, or 0.71%, to Rs 562 per 10 kg, with a business turnover of 374 lots.

The October contract rose by Rs 3.50, or 0.62%, to Rs 564.60 per 10 kg, with a trading volume of 154 lots.

Marketmen said fresh buying by traders, influenced by a firming spot demand, helped crude palm oil prices to trade higher at futures trade.