Refined soya oil futures rise 0.17% as demand picks up

Refined soya oil prices moved up by 0.17 per cent to Rs 679.10 per 10 kg in futures market today as traders created fresh positions due to pick up in demand at the spot market.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in March rose by Rs 1.15, or 0.17 per cent, to Rs 679.10 per 10 kg, with an open interest of 50,660 lots.

Similarly, the oil for delivery in February edged up by 50 paise, or 0.07 per cent, to Rs 689 per 10 kg in 4,760 lots.

Analysts said building up of fresh positions by participants following pick up in demand in the spot market against tight stock position on fall in supplies from producing belts, mainly led to the rise in refined soya oil prices at futures trade.