Spot demand lifts crude palm oil futures by 0.35 pc

Crude palm oil prices were trading higher by 0.35 per cent to Rs 514.20 per 10 kg in futures trading today as participants indulged in creating fresh positions amid uptick in demand in the spot markets.
Short-covering by speculators in view of monthly expiry too supported the upmove.
At the Multi Commodity Exchange, crude palm oil for delivery in April rose Rs 1.80, or 0.35 per cent to Rs 514.20 per 10 kg in a business turnover of 117 lots.
On similar lines, the oil for March edged up by 40 paise, or 0.07 per cent, to Rs 538.90 per 10 kg in 168 lots.

Analysts said, fresh positions built-up by traders after pick up in the spot market against restricted supplies from producing regions, mainly led to the rise in crude palm oil prices at futures trade.