Refined soya oil up 0.56 pc on positive spot market cues

Refined soya oil prices advanced by 0.56 per cent to Rs 646.95 per 10 kg in futures trading today as speculators built up fresh positions, driven by uptick in demand at the spot market.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in August rose by Rs 3.60, or 0.56 per cent, to Rs 646.95 per 10 kg with an open interest of 45,530 lots.
Likewise, the oil for delivery in September was trading higher by Rs 2.95, or 0.45 per cent, to Rs 654.25 per 10 kg in 28,950 lots.
Analysts said the rise in refined soya oil prices at futures trade was due to traders creating fresh positions following pick-up in demand at spot market against restricted supplies from producing regions.