Crude palm oil rise by 0.24% as demand picks up

Crude palm oil prices rose by 0.24% to Rs 532.10 per 10 kg in futures trade today after speculators enlarged positions triggered by rising demand in the spot market.

At the Multi Commodity Exchange, crude palm oil for delivery in January rose by Rs 1.30, or 0.24%, to Rs 532.10 per 10 kg in business turnover of 201 lots.

Likewise, the oil for delivery in February traded higher by rupee one, or 0.19%, to Rs 537.50 per 10 kg in 95 lots.

Analysts said speculators indulged in creating fresh positions after pick up in demand in the spot market mainly helped crude palm oil prices to trade higher at futures trade.