Refined soya oil futures rise 1.12% on rising demand

Refined soya oil prices gained 1.12 per cent to Rs 608.50 per 10 kg in futures trade today as speculators created fresh positions amid rising domestic demand and restricted arrivals from producing regions.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in February rose by Rs 6.75, or 1.12 per cent, to Rs 608.50 per 10 kg with an open interest of 55,035 lots.
Similarly, the oil for delivery in January traded higher by Rs 5.90, or 0.99 per cent, to Rs 601.90 per 10 kg in 77,485 lots.
Analysts said besides upsurge in demand in spot market, tight supplies from producing belts mainly led to the rise in refined soya oil prices at futures trade.