Palm oil up marginally on spot demand

May and June contracts up 0.02% and 0.46% respectively

Crude palm oil prices rose marginally by Rs 2.70 to Rs 592.80 per 10 kg in futures trading today, due to pick-up in demand in the spot markets.

At the Multi Commodity Exchange, crude palm oil for delivery in June edged up by Rs 2.70, or 0.46%, to Rs 592.80 per 10 kg in business turnover of 699 lots.

The May contract traded higher by Rs 10 paise, or 0.02%, to Rs 585.90 per 10 kg in 114 lots.

Market analysts said fresh positions built-up by speculators on the back of pick-up in demand in the spot market mainly helped crude palm oil to trade shade higher at futures trade.