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Upsurge in demand lifts refined soya oil futures by 0.89%

Press Trust of India  |  New Delhi 

Refined soya oil prices advanced 0.89 per cent to Rs 671.80 per 10 kg in futures trade today as participants built up fresh position after pick up in demand in the spot market against tight supplies.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in November rose by Rs 5.90, or 0.89 per cent, to Rs 671.80 per 10 kg, with an open interest of 58,530 lots.

Similarly, the oil for delivery in October gained Rs 5.20, or 0.79 per cent, to Rs 661.25 per 10 kg in 8,330 lots.

Analysts said fresh positions created by traders due to uptick in demand in the spot market against restricted supplies from producing regions mainly led to rise in refined soya oil prices at futures trade.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, October 17 2016. 11:02 IST