Crude palm oil up 0.11% as demand picks up

Speculators create fresh positions on higher offtake in spot market

Crude palm oil prices were edged higher by 0.11 per cent to Rs 452 per 10 kg in futures trade today as speculators indulged in creating positions due to pickup in demand in the spot market.

In futures trading, crude palm oil for delivery in May month moved up by 50 paise, or 0.11 per cent to Rs 452 per 10 kg in business turnover of 51 lots at the Multi Commodity Exchange.

The June contract was higher by 40 paise, or 0.09 per cent to Rs 453 per 10 kg in 1 lot.

Analysts said fresh positions built-up by speculators due to pick-up in demand in the spot market mainly led to rise in crude palm oil prices at futures trade.