Refined soya oil up 0.5% on rise in demand

Supported by pick up in demand at domestic spot markets and restricted supplies from the growing regions, refined soya oil prices traded higher by 0.47% to Rs 603.25 per 10 kg in futures trading today.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in far-month March went up by Rs 2.85, or 0.47%, to Rs 603.25 per 10 kg, with an open interest of 52,990 lots.

In a similar manner, the oil for delivery in February moved up by Rs 2.45, or 0.41%, to Rs 606.95 per 10 kg in 81,940 lots.

Analysts attributed the rise in refined soya oil prices at futures trade to uptick in demand in the spot market against restricted supplies from the producing belts.