Crude palm oil rises 0.38 pc in futures trade

Crude palm oil prices were trading up by 0.38 per cent to Rs 519.80 per 10 kg in futures trade today as traders created fresh positions, supported by pick-up in demand at the spot market.
Moreover, tight stocks position on fall in supplies from growing regions also added support to crude palm oil prices uptrend.
At the Multi Commodity Exchange, crude palm oil for delivery in current month rose by Rs 2, or 0.38 per cent, to Rs 519.80 per 10 kg, in a business turnover of 107 lots.
Similarly, the contracts for October delivery was trading at Rs 518.70, up by 0.25 per cent, or Rs 1.30 with an business volume of 15 lots.

Analysts said building up of positions by participants driven by pick-up in demand at the spot market against tight stocks position on restricted supplies from producing regions mainly kept crude palm oil prices higher at futures trade.