Crude palm oil up 0.2% on spot demand

Crude palm oil rose by Rs 1.30 to Rs 521.20 per 10 kg in futures trade today as traders and speculators indulged in expanding positions, driven by rising demand in spot market.

At the Multi Commodity Exchange, crude palm oil for delivery in October rose by Rs 1.30, or 0.25%, to Rs 521.20 per 10 kg, with a business turnover of 13 lots.

The oil for November delivery increased by Rs 1.30, or 0.25%, to Rs 520.60 per 10 kg, with trading volume of 10 lots.

Marketmen attributed the rise in crude palm oil prices at futures trade to rising demand at spot demand.