Refined soya oil up 0.29% as demand picks up

Speculators create fresh positions as restricted sipplies from producing belts fuel uptrend

Refined soya oil prices were up by 0.29 per cent to Rs 634.50 per 10 kg in futures trading today as speculators created fresh positions, amid rising domestic demand.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in December edged up by Rs 1.85 or 0.29 per cent to Rs 634.50 per 10 kg with an open interest of 25,840 lots.

The January contract traded higher by Rs 1.15 or 0.18 per cent to Rs 635.60 per 10 kg in 85,890 lots.

Market 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 producing belts.