Refined soya oil up 0.2% on spot demand

Oil for delivery in September edged up by 0.21%

Refined soya oil prices edged higher by 0.24% to Rs 671.60 per 10 kg in futures trading today as speculators created fresh positions amid rising demand in spot markets.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in August rose by Rs 1.60, or 0.24%, to Rs 671.60 per 10 kg with an open interest of 36,210 lots.

Similarly, the oil for delivery in September edged up by Rs 1.40, or 0.21%, to Rs 662.60 per 10 kg in 1,11,295 lots.

Marketmen said fresh positions built-up by speculators on the back of pick-up in demand in the spot markets mainly led to the rise in refined soya oil prices at futures trade.