Crude palm oil futures edge higher 0.68% as demand picks up

Amid pick up in domestic demand and restricted supplies from producing regions, crude palm oil prices were up by 0.68 per cent to Rs 516.60 per 10 kg in futures trading today as traders built up fresh positions.
At the Multi Commodity Exchange, crude palm oil for delivery in November went up by Rs 3.50, or 0.68 per cent, to Rs 516.60 per 10 kg, in a business turnover of 158 lots.
Similarly, the oil for delivery in October was trading higher by Rs 2.10, or 0.39 per cent, to Rs 534.50 per 10 kg in 63 lots.
Analysts attributed the rise in crude palm oil prices to building-up of positions by participants due to pick up in demand in the spot market against tight supplies from producing belts.