Crude palm oil futures up 0.77 pc on spot demand

Crude palm oil prices moved up by 0.77 per cent to Rs 497.30 per 10 kg in futures market today as speculators indulged in creating positions coupled with rising demand in spot market.
At the Multi Commodity Exchange, crude palm oil for delivery in August rose Rs 3.80, or 0.77 per cent, to Rs 497.30 per 10 kg, in a business turnover of 323 lots.
Similarly, oil for delivery in July edged up by Rs 2.60, or 0.49 per cent, to Rs 524 per 10 kg in 63 lots.
Analysts said fresh positions built-up by speculators supported by rising demand in the spot market, mainly led to the rise in crude palm oil prices at futures trade.