Crude palm oil futures rise by 0.96 pc

Crude palm oil prices were up by 0.96 per cent to Rs 556.50 per 10 kg in futures trade today as speculators indulged in enlarging positions, driven by a firm demand at the spot market.
Besides, a firming trend in overseas markets supported the uptrend.
At the Multi Commodity Exchange, crude palm oil for December rose by Rs 5.30 or 0.96 per cent to Rs 556.50 per 10 kg in a business turnover of 387 lots.
Similarly, the oil for delivery in November went up by Rs 3.20 or 0.57 per cent to Rs 555.50 per 10 kg in 130 lots.

Analysts said widening of positions by participants, tracking 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.