Crude palm oil futures gain 0.91% on uptick in demand

Crude palm oil prices were higher by 0.91 per cent to Rs 564 per 10 kg in futures trade today as traders created fresh positions amid pick up in domestic demand and restricted supplies from producing regions,
At the Multi Commodity Exchange, crude palm oil for delivery in January went up by Rs 5.10, or 0.91 per cent, to Rs 564 per 10 kg in business turnover of 67 lots.
Similarly, the oil for delivery in December month contracts gained Rs 4.80, or 0.85 per cent to Rs 566.80 per 10 kg in 149 lots.
Analysts said participants built up fresh positions after pick up in demand in the spot market against tight stocks position on restricted supplies from producing regions mainly led to rise in crude palm oil prices at futures trade.