Uptick in demand lifts crude palm oil futures by 1.75 pc

Amid pick-up in domestic demand and restricted supplies from producing belts, crude palm oil futures traded higher by 1.75 per cent to Rs 534 per 10 kg today as traders created fresh positions.
At the Multi Commodity Exchange, crude palm oil for December went up by Rs 9.20, or 1.75 per cent to Rs 534 per 10 kg in a business turnover of 577 lots.
Likewise, the oil for delivery in current month edged up by Rs 8.80, or 1.68 per cent to Rs 533 per 10 kg in 577 lots.
Analysts attributed the rise in crude palm oil prices at futures trade to positions created by participants due to pick up in demand in the spot market against restricted supplies from overseas markets.