Crude palm oil futures gain 0.69% as demand picks up

Amid pick up in demand at domestic spot market, crude palm oil prices were up by 0.69 per cent to Rs 656.30 per 10 kg in futures trading today as speculators created fresh positions.

At the Multi Commodity Exchange, crude palm oil for delivery in April went up by Rs 4.50, or 0.69 per cent to Rs 656.30 per 10 kg in business turnover of 226 lots.

Likewise, the oil for delivery in May was trading higher by Rs 4.20, or 0.64 per cent to Rs 662 per 10 kg in 24 lots.

Analysts said the rise in crude palm oil prices was mostly due to building up of fresh positions by traders after uptick in demand in the physical against restricted supplies from growing regions.