Uptick in demand lifts crude palm oil futures by 0.37%

Amid pick up in domestic demand and restricted supplies from producing belts, crude palm oil prices were up by 0.37 per cent to Rs 485.50 per 10 kg in futures trade today as traders created fresh positions.
At the Multi Commodity Exchange, crude palm oil for delivery in March edged up by Rs 1.80, or 0.37 per cent, to Rs 485.50 per 10 kg, in a business turnover of 243 lots.
Similarly, the oil for delivery in far-month April traded higher by Rs 1.40, or 0.29 per cent, to Rs 488 per 10 kg in 202 lots.
Market analysts said participants built up fresh positions after pick up in demand in the spot market against restricted supplies from producing belts mainly helped crude palm oil prices to trade higher at futures trade.