Crude palm oil futures marginally up on rise in demand

Crude palm oil prices rose by 0.22 per cent to Rs 494.40 per 10 kg in futures market today amid pick up in demand at domestic spot market against restricted supplies from producing belts.

At the Multi Commodity Exchange, crude palm oil for delivery in May moved up by Rs 1.10, or 0.22 per cent, to Rs 494.40 per 10 kg in business turnover of 163 lots.

Likewise, the oil for delivery in April contracts traded higher by 80 paise, or 0.15 per cent, to Rs 519 per 10 kg in 25 lots.

Analysts said fresh positions built up by participants due to pick up in demand at spot market against tight stock position, mainly led to the rise in crude palm oil prices at futures trade.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)