Crude palm oil futures rise 2.79% on pick-up in demand

Crude palm oil futures gained 2.79 per cent to Rs 455.50 per 10 kg in futures trading after participants created speculative positions following rising demand in spot markets.
At the Multi Commodity Exchange, crude palm oil for delivery in March rose by Rs 12.40, or 2.79 per cent, to Rs 455.50 per 10 kg in a business turnover of 483 lots.
Likewise, the oil for delivery in February was up by Rs 11.30, or 2.56 per cent, to Rs 452.50 per 10 kg in 607 lots.
Analysts said speculative positions built by participants following pick-up in spot demand mainly led to rise in crude palm oil prices at futures trade.