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Crude palm oil up 0.83% on strong spot demand

Firm spot market trend pushed up the price

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Press Trust of India New Delhi

Crude palm oil January futures rose by Rs 3.70, or 0.83%, to Rs 446 per 10 kg in 247 lots.

At the Multi Commodity Exchange, the February contract moved up by Rs 2.10, or 0.46%, to Rs 452.90 per 10 kg in 351 lots.

Fresh positions by speculators, a firming trend in the spot market and pick-up in demand supported crude palm oil futures trade.

On the Malaysia Derivatives Exchange, the March contract climbed 0.7 % to 2,407 ringgit ($ 791) a tonne while dropping 4.4% in the four days through yesterday.

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First Published: Jan 09 2013 | 12:12 PM IST

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