Crude palm oil up on increased demand

Crude palm oil futures traded higher by Rs 3.40 to Rs 591.40 per 10 kg today, as speculators created fresh positions on the back of increased demand in the spot market.

On the Multi Commodity Exchange, the April crude palm oil rose by Rs 3.40, or 0.58%, to Rs 591.40 per 10 kg in a business turnover of 879 lots.

The March delivery traded higher by Rs 2.90, or 0.50%, to Rs 586.60 per 10 kg in 111 lots.

Analysts said fresh buying by speculators following increased demand in the spot market mainly helped crude palm oil prices to trade higher at futures market.