Crude palm oil moves up 0.31% in futures trade

Crude palm oil prices were trading higher by 0.31 per cent at Rs 538 per 10 kg in futures trade today, backed by pick-up in demand at the spot market.
Tight stock position, an outcome of fall in supplies from the oil growing regions, provided support.
At Multi Commodity Exchange, crude palm oil for delivery in October rose by Rs 1.70, or 0.31 per cent, to Rs 538 per 10 kg, in a business turnover of 123 lots.
Contracts for the current month delivery was trading at Rs 548.50, up by 0.11 per cent, or 0.60 paise, with a business volume of 222 lots.

Analysts said building up of exposure driven by pick-up in demand at the spot market against tight stock position kept crude palm oil prices higher in futures trade.