Refined soya oil futures gain 0.27% on spot demand

Refined soya oil prices edged up by 0.27 per cent to Rs 652.35 per 10 kg in futures trade today as participants built up fresh positions amid pick-up in local demand and restricted supplies from producing regions.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in August rose by Rs 1.75, or 0.27 per cent, to Rs 652.35 per 10 kg with an open interest of 48,930 lots.

Likewise, the oil for delivery in July contracts traded higher by Rs 1.50, or 0.23 per cent, to Rs 648.40 per 10 kg in 34,830 lots.

Analysts said building up of positions by traders due to pick-up in demand in the physical market against restricted supplies from growing regions mainly led to the rise in refined soya oil prices.