28/05/2013 (Economic Times) - Crude palm oil prices marginally up by Rs 1.40 to Rs 475.90 per 10 kg in futures trade today as speculators created fresh positions amid pick-up in demand in spot markets.

On the Multi Commodity Exchange, crude palm oil for the May delivery rose by Rs 1.40, or 0.29 per cent, to Rs 475.90 per kg, with a trading volume of 34 lots.

Similarly, the oil for delivery in June went up by Rs 1.10, or 0.23 per cent, to Rs 476 per 10 kg, with a business turnover of 64 lots.

Analysts said fresh positions created by speculators following pick-up in demand in spot markets, mainly led to a rise in crude palm oil prices at futures market.

Meanwhile in Malaysia, palm oil traded at nearly six weeks high on speculation that demand may increase ahead of the Muslim fasting month of Ramadan, boosting exports from Malaysia, the world's second-largest producer.

The contract for the August delivery was little changed at 2,368 ringgit ($ 781) a metric tonne on the Malaysia Derivatives Exchange.