Crude palm oil up on rising demand

Supported by rising domestic demand, crude palm oil futures gained 0.28 per cent to Rs 583.30 per 10 kg as speculators enlarged positions.

At the Multi Commodity Exchange, crude palm oil for delivery in March added Rs 1.60, or 0.28 per cent to Rs 583.30 per 10 kg in business turnover of 68 lots.

Similarly, the oil for delivery in February gained Rs 1.20, or 0.21 per cent to Rs 583 per 10 kg in 7 lots.

Analysts said the rise in crude palm oil prices at futures trade was mostly attributed to participants enlarging their positions on the back of rising demand in the spot market.