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Uptick in demand lifts crude palm oil futures by 0.47%

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Press Trust of India New Delhi
Amid pick up in domestic demand and restricted supplies from producing belts, crude palm oil prices were up by 0.47 per cent to Rs 452.20 per 10 kg in futures trade today.

At the Multi Commodity Exchange, crude palm oil for delivery in March month moved up by Rs 2.10, or 0.47 per cent to Rs 452.20 per 10 kg in business turnover of 31 lots.

Similarly, the oil for delivery in February contracts was trading higher by Rs 1.30, or 0.29 per cent to Rs 446.80 per 10 kg in 79 lots.

Analysts said speculators creating fresh positions due to pick up in demand in the spot market and a firming trend in the overseas market mainly led to the rise in crude palm oil prices at the futures trade.

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First Published: Feb 01 2016 | 12:28 PM IST

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