Refined soya oil up 0.3% on upsurge in demand

Oil for delivery in September traded higher by 0.24%

Refined soya oil prices moved up by 0.30% to Rs 677.20 per 10 kg in futures trading today as speculators created fresh positions amid rising demand in spot markets.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in August moved up by Rs 2, or 0.30%, to Rs 677.20 per 10 kg with an open interest of 55,540 lots.

Similarly, the oil for delivery in September traded higher by Rs 1.60, or 0.24%, to Rs 670.60 per 10 kg in 1,04,850 lots.

Market analysts said fresh positions built-up by speculators as demand picked up in the spot markets, mainly led to the rise in refined soya oil prices at futures trade.