Crude palm oil rises by 0.4% as demand picks up

Fresh positions built up by speculators triggered by pick up in demand influenced prices

Amid pick up in domestic demand, crude palm oil prices moved up by 0.44% to Rs 431.20 per 10 kg in futures trade today as speculators created fresh positions.

At the Multi Commodity Exchange, crude palm oil for delivery in August month edged higher by Rs 1.90, or 0.44% to Rs 431.20 per 10 kg in business turnover of 25 lots.

Likewise, the oil for delivery in July contracts traded higher by Rs 1.40, or 0.33% to Rs 430.50 per 10 kg in 32 lots.

Market analysts said fresh positions built up by speculators triggered by pick up in demand in the spot market, mainly influenced crude palm oil prices at futures trade.