Crude palm oil up 0.36% in futures trade as speculators create long positions

NEW DELHI: Crude palm oil prices were higher by 0.36 per cent to Rs 419.10 per 10 kg in futures trading on Monday as speculators indulged in creating positions, supported by pick up in demand in the spot market.

At the Multi Commodity Exchange (MCX), crude palm oil for delivery in December edged up by Rs 1.50, or 0.36 per cent to Rs 419.10 per 10 kg in business turnover of 53 lots.

Similarly, the oil for January delivery traded higher by Rs 1.40, or 0.33 per cent to Rs 429 per 10 kg in 73 lots.

Analysts said fresh positions created by speculators on the back of pick-up in demand in the spot market, mainly led to rise in crude palm oil prices at futures trade.