Crude palm oil rise by 0.5% on spot demand

Crude palm oil rose by 0.48% to Rs 837 per 10 kg in futures trade today as speculators created fresh positions amid pick-up in demand in spot market.

At Multi Commodity Exchange, crude palm oil for delivery in April rose by Rs 2.10, or 0.48%, to Rs 437 per 10 kg in a business turnover of 117 lots.

Similarly, the oil for delivery in March gained Re 1, or 0.23%, to Rs 434.80 per 10 kg in 36 lots.

Analysts said fresh positions built up by speculators, supported by pick-up in demand in the spot market against restricted supplies from producing belts, mainly led to the rise in crude palm oil prices at futures trade.