Uptick in demand lifts crude palm oil futures 0.75%

Crude palm oil prices were trading up by 0.75 per cent at Rs 562.90 per 10 kg in futures trade today as participants created fresh bets, supported by pick-up in demand at the spot market.
A firming trend in overseas markets also fuelled the uptrend.
In futures trading, at the Multi Commodity Exchange, crude palm oil for delivery in the current month rose Rs 4.20, or 0.75 per cent, to Rs 562.90 per 10 kg in business turnover of 84 lots.
Similarly, the oil for delivery in February went up by Rs 3.60, or 0.63 per cent, to Rs 566.20 per 10 kg in 32 lots.

Analysts said fresh positions created by participants on the back of rise in demand in the physical market against restricted supplies from producing regions drove crude palm oil prices at futures trade.