Refined soya oil futures rise as demand picks up

Refined soya oil prices traded higher by Rs 5.40 to Rs 688.75 per 10 kg in futures trading today due to pick-up in spot market demand against less arrivals from producing region.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in March rose by Rs 5.40, or 0.79%, to Rs 688.75 per 10 kg, with an open interest of 89,460 lots.

Similarly, the oil for delivery in February moved up by Rs 5.35, or 0.77%, to Rs 702 per 10 kg, with a business volume of 1,25,240 lots.

Market analysts said pick-up in demand supported by marriage season mainly led to the rise in refined soya oil futures prices.