Palm oil gains 0.6% as demand picks up

Crude palm oil prices rose by Rs 3.50, or 0.62%, to Rs 571 per 10 kg in futures trading today as speculators enlarged positions after strong demand in the spot market.

At the Multi Commodity Exchange, crude palm oil for delivery in April gained Rs 3.50, or 0.62% to Rs 571 per 10 kg in business turnover of 107 lots.

The March contract traded higher by Rs 3, or 0.54% to Rs 555.10 per 10 kg in business volume of 131 lots.

Experts said pick up in demand in the spot market mainly helped crude palm oil prices to trade  higher at futures trade.