Crude palm oil up by 0.6% on rising demand

Fresh positions created by speculators following rising demand at spot market, mainly influenced prices

Supported by rising demand at the spot market, crude palm oil prices were up 0.59% to Rs 436.20 per 10 kg in futures market today as speculators widened positions.

At the Multi Commodity Exchange, crude palm oil for delivery in August edged higher by Rs 2.60, or 0.59%, to Rs 436.20 per 10 kg in a business turnover of 62 lots.

Similarly, the oil for delivery in July was trading higher by Rs 2.20, or 0.50%, to Rs 435.20 per 10 kg in 46 lots.

Market analysts said fresh positions created by speculators following rising demand at spot market, mainly influenced crude palm oil prices at futures trade.