Refined soya oil futures rise 0.51% as demand picks up

Amid pick up in domestic demand and restricted supplies from producing regions, refined soya oil prices were up by 0.51 per cent to Rs 634.50 per 10 kg in futures market today as participants built up fresh positions.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in September month went up by Rs 3.20, or 0.51 per cent to Rs 634.50 per 10 kg with an open interest of 1,00,760 lots.

Similarly, the oil for delivery in August contracts gained Rs 2.95 or 0.47 per cent to Rs 629.75 per 10 kg in 71,210 lots.

Traders said fresh positions created by traders due to pick up in demand in the spot market against restricted supplies from producing belts mainly led to rise in refined soya oil prices at futures trade.