Refined soya oil futures rise 1.14% as demand picks up

Refined soya oil prices were higher by 1.14 per cent to Rs 597 per 10 kg in futures trading today as speculators indulged in creating fresh positions, driven by rising demand in the spot markets.
Besides, tight stocks position in the physical market on limited arrivals from producing belts fuelled the uptrend.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in April month rose Rs 6.75, or 1.14 per cent to Rs 597 per 10 kg with an open interest of 56,240 lots.
Similarly, the oil for delivery in June contracts traded higher by Rs 5.10, or 0.90 per cent to Rs 569.70 per 10 kg in 1,14,855 lots.

Market analysts said fresh positions built-up by speculators amid pick up in demand in the spot market, mainly led to the rise in refined soya oil prices at futures trade.