Crude palm oil futures rebound 0.68% as demand picks up

Amid pick up in demand at domestic spot market and restricted arrivals from producing belts, crude palm oil prices recovered by 0.68 per cent to Rs 591.70 per 10 kg in futures trade today as traders built up fresh positions.
At the Multi Commodity Exchange, crude palm oil for delivery in January moved up by Rs 4, or 0.68 per cent, to Rs 591.70 per 10 kg, in a business turnover of 273 lots.
Likewise, the oil for delivery in February was trading higher by Rs 3.80, or 0.66 per cent, to Rs 583.80 per 10 kg in 94 lots.

Analysts said fresh positions created by participants due to pick up in demand in the spot market against restricted supplies from producing regions mainly led to the rise in crude palm oil prices at futures trade.