Crude palm oil futures up 0.10% on pick up in demand

Crude palm oil prices were up by 0.10 per cent to Rs 580.40 per 10 kg in futures trading today as traders created fresh positions following pick up in demand against restricted supplies from the producing belts.
At the Multi Commodity Exchange, crude palm oil for delivery in February moved up by 60 paise, or 0.10 per cent, to Rs 580.40 per 10 kg in business turnover of 55 lots.
On similar lines, the oil for delivery in January contracts was trading higher by 40 paise, or 0.07 per cent, to Rs 588.90 per 10 kg in 54 lots.
Analysts said the rise in crude palm oil prices was mostly due to building up of positions by participants on the back of pick up in demand at the spot market against restricted supplies from producing regions.