Palm oil up 0.6% on pick-up in demand

Oil for delivery in October edged up by 0.07%

Crude palm oil prices traded higher by 0.65% to Rs 463.80 per 10 kg in futures trade today as speculators created fresh positions amid pick-up in domestic demand and restricted arrivals from producing regions.

At the Multi Commodity Exchange, crude palm oil for delivery in November gained Rs 3, or 0.65%, to Rs 463.80 per 10 kg in a business turnover of 40 lots.

Similarly, the oil for delivery in October edged up by 30 paise, or 0.07%, to Rs 455.40 per 10 kg in four lots.

Analysts attributed the rise in crude palm oil futures to pick-up in demand in the spot market against restricted arrivals from producing belts.