Spot demand lifts refined soya oil futures by 0.37%

Amid pick up in domestic demand at the spot markets and restricted supplies from producing regions, refined soya oil prices traded higher by 0.37 per cent to Rs 642.40 per 10 kg in futures trading today as speculators built up fresh positions.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in August rose by Rs 2.35, or 0.37 per cent, to Rs 642.40 per 10 kg, with an open interest of 24,460 lots.

On similar lines, the oil for delivery in September gained Rs 2.20, or 0.34 per cent, to Rs 649.30 per 10 kg in 53,970 lots.
 

Market analysts said fresh positions created by traders following uptick in demand in the physical market against restricted supplies from producing regions, mainly led to the rise in refined soya oil prices at futures trade.