Crude palm oil futures gain 0.73% on rising demand

Amid strong demand at domestic spot market against restricted supplies from producing belts, crude palm oil prices were higher by 0.73 per cent to Rs 524.50 per 10 kg in futures trade today as traders created fresh positions.
At the Multi Commodity Exchange, crude palm oil for delivery in September rose by Rs 3.80, or 0.73 per cent, to Rs 524.50 per 10 kg, in a business turnover of 174 lots.
Similarly, the oil for delivery in October was trading higher by Rs 3.60, or 0.69 per cent, to Rs 524.10 per 10 kg in 19 lots.
Analysts said building up of positions by participants due to pick up in demand at the spot market against tight stocks position on fall in supplies from producing regions, mainly led to the rise in crude palm oil prices at futures trade.