Crude palm oil rises by 1% as demand picks up

Crude palm oil prices were up by 0.97% to Rs 444.60 per 10 kg in futures trade today as speculators indulged in creating fresh positions supported by pick up in demand in the spot market.

At the Multi Commodity Exchange, crude palm oil for delivery in May rose by Rs 4.30, or 0.97%, to Rs 444.60 per 10 kg in business turnover of 236 lots.

Likewise, the oil for delivery in April up by Rs 4, or 0.91%, to Rs 442.90 per 10 kg in 123 lots.

Analysts said speculators creating fresh positions driven by pick up in demand in the spot market mainly led to rise in crude palm oil prices at futures trade.