Amid pick up in spot demand against restricted supplies from producing belts, crude palm oil prices edged up by 0.80 per cent to Rs 556 per 10 kg in futures trade Monday as speculators created fresh positions.
At the Multi Commodity Exchange, crude palm oil for delivery in February inched up by Rs 4.40, or 0.80 per cent, to Rs 556 per 10 kg in a business turnover of 320 lots.
Analysts attributed the rise in crude palm oil prices to fresh positions built up by traders after pick up in demand in the spot market against tight stocks position.
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