Crude palm oil up by 1.2% on spot demand

Crude palm oil prices were up 1.23% to Rs 411.40 per 10 kg in futures trade today as traders created fresh positions, taking positive cues from spot market on demand pick-up amid restricted supplies.

Besides, a firming trend overseas supported the upside.

At Multi Commodity Exchange, crude palm oil for delivery in December rose Rs 5, or 1.23%, to Rs 411.40 per 10 kg in a business turnover of 474 lots.

Similarly, the oil for delivery in December traded higher by Rs 4.30, or 1.07%, to Rs 404.70 per 10 kg in 430 lots.

Analysts said the rise in crude palm oil prices in futures trade was mostly attributed to pick-up in demand at the spot market amid restricted supplies from producing belts.