Refined soya oil up 0.6% on spot demand

Oil for delivery in June edged up by 0.58%

Refined soya oil prices edged higher by 0.61% to Rs 720.40 per 10 kg in futures trading today after speculators created positions supported by pick up in demand in the spot market.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in May traded higher by Rs 4.35, or 0.61% to Rs 720.40 per 10 kg with an open interest of 87,250 lots.

Similarly, the oil for delivery in June edged up by Rs 4.10, or 0.58% to Rs 713.20 per 10 kg in 117610 lots.

Analysts said the rise in refined soya oil prices at futures trade was mostly on pick up in demand in the spot markets.