Crude palm oil rises 0.46% on spot demand

Restricted arrivals from producing belts also exert downward pressure in futures trade

Crude palm oil prices rose by 0.46 per cent to Rs 549.60 per 10 kg in futures trading today, amid pick up in spot demand and fall in supplies from producing regions.

At the Multi Commodity Exchange, crude palm oil for delivery in June moved up by Rs 2.50, or 0.46 per cent to Rs 549.60 per 10 kg in business turnover of 53 lots.

The May contract edged up by Rs 2.10, or 0.38 per cent to Rs 552.50 per 10 kg in 52 lots.

Analysts said fresh positions built up by speculators triggered by a pick up in demand in the spot market amid restricted arrivals from producing belts mainly influenced the crude palm oil prices in futures trade.