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Crude palm oil futures rise as demand picks up

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Crude palm oil prices rose by Rs 2.50 to Rs 450.30 per 10 kg in futures trade today mostly supported by a rise in demand in the spot market.

At the Multi Commodity Exchange, crude palm oil for delivery in December rose by Rs 2.50, or 0.56 per cent, to Rs 450.30 per 10 kg, with a business turnover of 1,122 lots.

Similarly, the oil for delivery in November edged up by Rs 2.30, or 0.52 per cent, to Rs 444.80 per 10 kg, with a business turnover of 875 lots.

Marketmen said fresh buying by speculators on the back of pick-up in spot demand mainly led to a rise in crude palm oil at futures trade.

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