Crude palm oil futures gain 0.85% on spot demand

Crude palm oil prices were up by 0.85 per cent to Rs 531.80 per 10 kg in futures in evening session today as speculators built up fresh position.

The exchange remained closed in morning session for 'Mahashivratri'.

At the Multi Commodity Exchange, crude palm oil for delivery in March rose by Rs 4.50, or 0.85 per cent to Rs 531.80 per 10 kg in business turnover of 72 lots.

Similarly, the oil for delivery in February contracts was trading higher by Rs 2.40, or 0.44 per cent to Rs 544.90 per 10 kg in 66 lots.

Analysts said building of positions by participants, mainly led to rise in crude palm oil prices higher at futures trade.