Spot demand lifts crude palm oil futures by 0.64 pc

Amid uptick in domestic demand and restricted supplies from producing belts, crude palm oil prices went up by 0.64 per cent to Rs 521.80 per 10 kg in futures trading today as traders created fresh positions.

At the Multi Commodity Exchange, crude palm oil for delivery in December moved up by Rs 3.30, or 0.64 per cent to Rs 521.80 per 10 kg in a business turnover of 70 lots.

Similarly, the oil for delivery in November traded higher by Rs 3.10, or 0.60 per cent to Rs 518 per 10 kg in 232 lots.

Analysts attributed rise in crude palm oil prices at futures trade to fresh positions built up by participants due to pick-up in demand in the spot market against tight stocks position on restricted supplies from growing regions.