Uptick in demand lifts crude palm oil futures by 0.35 pc

Crude palm oil prices were quoting up by 0.35 per cent to Rs 562.20 per 10 kg in futures trading today as traders created fresh positions, supported by pick-up in demand at the spot market.
Besides, a firming trend in overseas markets fuelled the uptrend.
In futures trading at the Multi Commodity Exchange, crude palm oil for delivery in February rose by Rs 2, or 0.35 per cent, to Rs 562.20 per 10 kg in a business turnover of 146 lots.
Similarly, the oil for delivery in the current month went up by Rs 1.90, or 0.34 per cent, to Rs 553.40 per 10 kg in 82 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 mainly influenced crude palm oil prices in futures trade.