Crude palm oil remains up on rising spot demand

Continuing their rising streak for the third day, crude palm oil prices gained 0.18% to Rs 437 per 10 kg in futures trade today as speculators enlarged positions amid a firm trend at spot market on rising demand.

At the Multi Commodity Exchange, crude palm oil for delivery in March added 80 paise, or 0.18%, to Rs 437 per 10 kg in a business turnover of 16 lots.

Similarly, the oil for delivery in February traded a shade higher by 60 paise, or 0.14%, to Rs 435.50 per 10 kg in 44 lots.

Analysts attributed the persistent rise in crude palm oil prices at futures trade to rising demand in the spot market against restricted supplies from producing belts.