 "Crude palm oil rises by 0.6% on spot demand")
Crude palm oil prices moved up by 0.61% to Rs 444.70 per 10 kg in futures trade today as speculators created fresh positions due to pick-up in demand in the spot market.
Besides, tight stocks position in the physical market on restricted supplies from producing belts supported the upside.
At Multi Commodity Exchange, crude palm oil for delivery in April rose by Rs 2.70, or 0.61%, to Rs 444.70 per 10 kg in a business turnover of 69 lots.
Analysts said fresh positions built up by speculators following pick-up in demand in the spot market against restricted supplies from producing areas mainly led to the rise in crude palm oil prices at futures trade.
Besides, tight stocks position in the physical market on restricted supplies from producing belts supported the upside.
At Multi Commodity Exchange, crude palm oil for delivery in April rose by Rs 2.70, or 0.61%, to Rs 444.70 per 10 kg in a business turnover of 69 lots.
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Similarly, the oil for delivery in March contracts gained Rs 2.10, or 0.48%, to Rs 438.30 per 10 kg in 24 lots.
Analysts said fresh positions built up by speculators following pick-up in demand in the spot market against restricted supplies from producing areas mainly led to the rise in crude palm oil prices at futures trade.