Refined soya oil up 0.67% on rising demand

lower arrivals from producing belts support uptrend

Refined soya oil prices moved up by 0.67 per cent to Rs 699 per 10 kg in futures trade today as speculators enlarged positions on a firm trend at spot market.

In addition, restricted arrivals from producing belts supported the uptrend.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in June rose by Rs 4.65, or 0.67 per cent, to Rs 699 per 10 kg with an open interest of 41,620 lots.

The July contract gained Rs 2.95, or 0.43 per cent, to Rs 682.25 per 10 kg in 1,70,820 lots.

Analysts said speculators enlarged positions on a firm trend at spot market on rising demand amid lower arrivals from producing regions that supported the upside in refined soya oil prices at futures trade.