Refined soya oil futures up 0.62% on rising demand

Refined soya oil prices were up by 0.62 per cent to Rs 641.20 per 10 kg in futures trade today as participants enlarged their position amid rising demand in the spot market.
Besides, tight stocks position on restricted supplies from producing regions supported the upside.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in far-month July rose by Rs 3.95 or 0.62 per cent to Rs 641.20 per 10 kg with an open interest of 1,06,700 lots.
Similarly, the oil for delivery in June contracts edged up by Rs 1.25 or 0.20 per cent to Rs 630 per 10 kg in 3,100 lots.

Marketmen said expanding of positions by traders on the back of rising demand in the spot market mainly led to the rise in refined soya oil prices at futures trade.