Refined soya oil futures rise 0.28% as demand picks up

Refined soya oil prices were up 0.28 per cent to Rs 617.55 per 10 kg in futures market today as traders built up fresh positions after upsurge in demand in the spot market.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in far-month March moved up by Rs 1.75, or 0.28 per cent to Rs 617.55 per 10 kg with an open interest of 58,130 lots.

On similar lines, the oil for delivery in February contracts edged up by 40 paise, or 0.06 per cent to Rs 619.95 per 10 kg in 54,090 lots.

Analysts attributed the rise in refined soya oil prices at futures trade to pick up in demand in the spot market against restricted supplies from the growing regions.