Spot demand lifts crude palm oil by 0.5%

Oil for delivery in December contracts edged up by 0.39%

Amid pick up in domestic demand and restricted supplies from producing regions, crude palm oil traded higher by 0.49% to Rs 410.30 per 10 kg in futures trade today.

At the Multi Commodity Exchange, crude palm oil for delivery in November month rose by Rs 2, or 0.49%, to Rs 410.30 per 10 kg in business turnover of 240 lots.

Similarly, the oil for delivery in December contracts edged up by Rs 1.60, or 0.39%, to Rs 414.90 per 10 kg in 22 lots.

Analysts attributed the rise in crude palm oil prices at futures trade to pick up in demand in the spot markets amid restricted supplies from producing belts.