Palm oil up 0.6% on rising spot demand

Oil for delivery in April traded higher by 0.54%

Amid pick-up in domestic demand, crude palm oil up by 0.64% to Rs 611.40 per 10 kg in futures trade today as speculators enlarged positions.

At the Multi Commodity Exchange, crude palm oil for delivery in March rose by Rs 3.90, or 0.64% to Rs 611.40 per 10 kg in business turnover of 420 lots.

Similarly, the oil for delivery in April traded higher by Rs 3.30, or 0.54% to Rs 610.40 per kg in 503 lots.

Analysts said speculators enlarged positions on the back of rising demand in the spot market led to rise in crude palm oil prices at futures trade.