Refined soya oil up 0.4% on spot demand

Oil for delivery in November moved up by 0.3%

Refined soya oil futures traded higher by 0.37% to Rs 595 per 10 kg today as speculators enlarged positions amid strong demand in the spot market.

Further, tight supplies in the physical market fuelled the uptrend.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in December advanced by Rs 2.20, or 0.37%, to Rs 595 per 10 kg with an open interest of 70,545 lots.

Likewise, the oil for delivery in November moved up by Rs 1.80, or 0.30%, to Rs 595.90 per 10 kg in 80,600 lots.

Analysts said besides rising demand in the spot market, tight supplies from producing regions mainly kept refined soya oil higher at futures trade.