Crude palm oil futures up by 0.38%

Crude palm oil prices were up by 0.38 per cent to Rs 547.50 per 10 kg in futures trade today as speculators indulged in enlarging positions, driven by a firm demand at the spot market.
Besides, a better trend in overseas markets supported the uptrend.
At the Multi Commodity Exchange, crude palm oil for delivery in March rose by Rs 2.10, or 0.38 per cent, to Rs 547.50 per 10 kg, in a business turnover of 241 lots.
Similarly, the oil for delivery this month went up by Rs 1.60, or 0.28 per cent, to Rs 557.10 per 10 kg in 46 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.