Crude palm oil futures rise by 0.31 per cent

Crude palm oil prices were up by 0.31 per cent to Rs 514.30 per 10 kg in futures trade today as traders created fresh positions, supported by pick-up in demand at the spot market.
Besides, a firming trend in overseas markets too fuelled the uptrend.
At the Multi Commodity Exchange, crude palm oil for delivery this month rose by Rs 1.60 or 0.31 per cent, to Rs 514.30 per 10 kg in a business turnover of 215 lots.
Similarly, the oil for delivery May month went up by Rs 1.20 or 0.24 per cent to Rs 495 per 10 kg in 47 lots.

Analysts said widening of positions by participants driven by pick-up in demand in the spot market against tight stocks position on restricted supplies from producing regions mainly kept crude palm oil prices higher at futures trade.