Crude palm oil up over 1% on rising demand

Prices went up as speculators enlarged their positions

Crude palm oil prices rose by Rs 1.60 to Rs 476 per 10 kg in futures trading today as speculators enlarged their positions, supported by rising demand in the spot market.

At the Multi Commodity Exchange (MCX), the June contract gained Rs 1.60, or 0.34%, to Rs 476 per 10 kg in 449 lots.

The May contract traded higher by 90 paise, or 0.19%, to Rs 472.60 per 10 kg in 189 lots.

Market analysts said speculators enlarged their positions, driven by pick up in demand in the spot market mainly kept crude palm oil prices higher at futures market.