Crude palm oil futures up 1.06 pc on spot demand

Crude palm oil prices rose by 1.06 per cent at Rs 579.80 per 10 kg in futures trade today as traders created fresh positions, supported by pick-up in demand at spot market amid firm global cues.

At the Multi Commodity Exchange, crude palm oil for delivery in current month rose by Rs 6.10, or 1.06 per cent, to Rs 579.80 per 10 kg, in a business turnover of 981 lots.

The March contract was trading higher by Rs 5.80, or 1 per cent, to Rs 583 per 10 kg in 548 lots.

A firm trend in global markets supported crude palm oil prices, analysts said.
 

Restricted supplies from producing belts also supported the uptrend in crude palm oil.