Crude palm oil rises 0.48% in futures trade

Crude palm oil prices were up 0.48 per cent to Rs 542.60 per 10 kg in futures trade today as traders created fresh positions, supported by pick-up in demand at the spot market.
Besides, a firming trend in overseas markets too fuelled the uptrend.
In futures trading at the Multi Commodity Exchange, crude palm oil for delivery in December rose by Rs 2.60, or 0.48 per cent, to Rs 542.60 per 10 kg, in a business turnover of 321 lots.
Similarly, the oil for delivery in November month went up by Rs 2.20, or 0.41 per cent, to Rs 542.70 per 10 kg in 472 lots.

Analysts said widening 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.