Refined soya oil futures gain 0.39% on pick-up in demand

Refined soya oil prices were up by 0.39 per cent to Rs 563.55 per 10 kg in futures trading today as speculators indulged in creating fresh positions, tracking a firm trend at spot market on rising demand.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in June moved up by Rs 2.20, or 0.39 per cent to Rs 563.55 per 10 kg with an open interest of 1,15,885 lots.

Likewise, the oil for delivery in April contracts traded higher by Rs 2.05, or 0.35 per cent to Rs 589.70 per 10 kg in 63,890 lots.

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