Crude palm oil futures gain 0.31% on rising demand

Amid strong domestic demand at spot market and restricted supplies from producing regions, crude palm oil prices traded higher by 0.31 per cent to Rs 556 per 10 kg in futures trade today.
At the Multi Commodity Exchange, crude palm oil for delivery in far-month May went up by Rs 1.70, or 0.31 per cent, to Rs 556 per 10 kg, in a business turnover of 374 lots.
On similar lines, the oil for delivery in April edged up by 70 paise, or 0.13 per cent, to Rs 553.60 per 10 kg in 374 lots.
Analysts said besides rising demand in the spot market, restricted supplies from producing belts mainly kept crude palm oil prices higher at futures trade.