Crude palm oil futures rise 0.87% on spot demand

Crude palm oil futures gained 0.87 per cent to Rs 506.20 per 10 kg in futures trading today as traders enlarged speculative positions following rise in demand at the spot markets.

At the Multi Commodity Exchange, crude palm oil for delivery in August rose by Rs 4.40 or 0.87 per cent to Rs 506.20 per 10 kg in a business turnover of 960 lots.

Also, the oil for delivery in July was up by 80 paise or 0.15 per cent to Rs 525.40 per 10 kg in 70 lots.

Analysts said speculative positions built by participants following pick-up in spot demand mainly led to the rise in crude palm oil prices at futures trade.