Crude palm oil remain higher on rising spot demand

Extending gains for the fourth straight day, crude palm oil prices rose by 0.37 per cent to Rs 465.50 per 10 kg in futures trade today.
Tight stocks position in physical market on restricted supplies from producing belts supported the upside, analysts said.
At the Multi Commodity Exchange, crude palm oil for delivery in January month advanced Rs 1.70, or 0.37 per cent to Rs 465.50 per 10 kg in business turnover of 68 lots.
In a similar fashion, the oil for delivery in far-month February edged up by Rs 1.30, or 0.28 per cent to Rs 472.80 per 10 kg in business turnover of 64 lots.

Analysts said besides rising demand in the spot market, tight supplies from producing regions mainly kept crude palm oil prices higher at futures trade.