Refined soya oil futures gain 1.08 on spot demand

Refined soya oil prices rose by 1.08 per cent to Rs 681 per 10 kg in futures trade today as speculators engaged in creating positions, taking positive cues from the spot market.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in August shot up by 7.30, or 1.08 per cent to Rs 681 per 10 kg with an open interest of 1,02,450 lots.
Likewise, the oil for delivery in July contract traded up by Rs 6.90, or 1.01 per cent to Rs 690.40 per 10 kg in 1,28,680 lots.
Analysts attributed the rise in refined soya oil futures to pick up in demand in the spot market against restricted arrivals from producing belts that supported the rise in refined soya oil prices at futures trade.