Palm oil up 0.2% on spot demand

Crude palm oil prices rose by 0.26% to Rs 531.10 per 10 kg in futures market today as speculators indulged in creating fresh positions on rise in demand in the spot market.

At the Multi Commodity Exchange, crude palm oil for delivery in January rose by Rs 1.40, or 0.26%, to Rs 531.10 per 10 kg in a business turnover of 6 lots.

Similarly, the oil for delivery in February traded higher by the same margin to Rs 536.70 per 10 kg in 16 lots.

Analysts said speculators indulged in creating fresh positions on rise in demand in the spot market which led crude palm oil prices to trade higher at futures trade.