ET:Crude palm oil futures marginally up on spot demand
NEW DELHI: Crude palm oil prices rose marginally by Rs 1.70 to Rs 498.40 per 10 kg in futures trade on Monday as speculators created fresh positions, supported by a rise in demand in the spot market.
At the Multi Commodity Exchange, crude palm oil for delivery in August rose by Rs 1.70, or 0.34 per cent, to Rs 498.40 per 10 kg in business turnover of 250 lots.
Similarly, the oil for delivery in July edged up by 30 paise, or 0.06 per cent, to Rs 502.50 per 10 kg in 57 lots.
Analysts said fresh positions created by speculators after an improvement in demand in the spot market, helped crude palm oil prices to trade a shade higher at futures trade.
