Crude palm oil rise by 1.2% on high demand

Crude palm oil futures gained 1.16% to Rs 442.10 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 February rose by Rs 5.10 or 1.16% to Rs 442.10 per 10 kg in a business turnover of 260 lots.

Also, the oil for delivery in January was up by Rs 4.10 or 0.95% to Rs 433 per 10 kg in 327 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.