Refined soya oil up 1.5% on spot demand
Oil for delivery in August contracts traded higher by Rs 7.75, or 1.22%
 "Refined soya oil up 1.5% on spot demand")
Employees fill plastic bottles with edible oil at an oil refinery plant of Adani Wilmar Ltd, a leading edible oil maker, in Mundra
Refined soya oil prices were up by 1.45% to Rs 655.90 per 10 kg in futures trade today as participants enlarged positions, tracking a firm trend at spot market on upsurge in demand.
Besides, tight stocks position on restricted supplies from producing regions supported the upside.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in far-month September rose by Rs 9.35, or 1.45% to Rs 655.90 per 10 kg with an open interest of 61,900 lots.
Similarly, the oil for delivery in August contracts traded higher by Rs 7.75, or 1.22% to Rs 642.10 per 10 kg in 10,350 lots.
Traders said besides uptick in demand in the spot market, restricted supplies from producing belts mainly led to rise in refined soya oil prices at futures trade.
Besides, tight stocks position on restricted supplies from producing regions supported the upside.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in far-month September rose by Rs 9.35, or 1.45% to Rs 655.90 per 10 kg with an open interest of 61,900 lots.
Similarly, the oil for delivery in August contracts traded higher by Rs 7.75, or 1.22% to Rs 642.10 per 10 kg in 10,350 lots.
Traders said besides uptick in demand in the spot market, restricted supplies from producing belts mainly led to rise in refined soya oil prices at futures trade.
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First Published: Aug 16 2016 | 11:22 AM IST