Uptick in demand lifts crude palm oil futures by 0.40%

Amid upsurge in spot demand at the domestic market, crude palm oil prices traded higher by 0.40 per cent to Rs 491.70 per 10 kg in futures trade today as traders built up fresh positions.
At the Multi Commodity Exchange, crude palm oil for this month delivery rose by Rs 2, or 0.40 per cent, to Rs 491.70 per 10 kg, in a business turnover of 139 lots.
On similar lines, the oil for delivery in July gained Rs 1.90, or 0.39 per cent, to Rs 484.90 per 10 kg in 48 lots.
Analysts said fresh positions created by participants amid pick up in demand in the spot market against restricted arrivals from growing regions mainly influenced crude palm oil prices at futures trade.