Crude palm oil futures remain up on rising demand

Crude palm oil remained higher for the second day and prices advanced by 0.69 per cent to Rs 467.10 per 10 kg in futures trade today as speculators enlarged positions, taking positive cues from the spot market on rising demand.
At the Multi Commodity Exchange, crude palm oil for delivery in September gained Rs 3.20, or 0.69 per cent to Rs 467.10 per 10 kg in business turnover of 70 lots.
Likewise, the oil for delivery in October traded higher by Rs 2.30, or 0.50 per cent to Rs 458.10 per 10 kg in 94 lots.
Analysts said apart from a firming trend at spot market on the back of rising demand, limited arrivals from producing regions kept crude palm oil prices up at futures trade.