Rise in demand lifts refined soya oil futures

Refined soya oil prices went up by 0.02 per cent to Rs 720 per 10 kg in futures trade Friday amid pick-up in domestic demand at the spot market and restricted supplies from producing regions.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in December rose by 15 paise or 0.02 per cent, to Rs 720 per 10 kg with an open interest of 35,530 lots.

Similarly, the oil for delivery in January 2019 traded higher by Rs 1.05, or 0.15 per cent, to Rs 716 per 10 kg in 10,390 lots.

Analysts said fresh positions created by traders following pick-up in demand in the physical market against restricted supplies from growing regions led to an upward trend in refined soya oil prices in futures trade.