Refined soya oil up 0.8% on spot demand

Oil for delivery in August contracts gained 0.63%

Refined soya oil prices were traded higher 0.78 per cent to Rs 564.30 per 10 kg in futures trading today as speculators enlarged positions, supported by pickup in demand at the spot market.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in October moved up by Rs 4.35, or 0.78 per cent to Rs 564.30 per 10 kg with an open interest of 84,565 lots.

Similarly, the oil for delivery in August contracts gained Rs 3.60, or 0.63 per cent to Rs 576.50 per 10 kg in 1,95,110 lots.

Market analysts attributed the rise in refined soya oil futures to pickup in demand at the spot market against restricted supplies from producing belts.