Refined futures rise 0.41% as demand picks up

Refined soya oil prices were up 0.41 per cent to Rs 622.50 per 10 kg in futures market today as participants created fresh positions after upsurge in demand in the spot market.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in far-month July rose by Rs 2.55, or 0.41 per cent to Rs 622.50 per 10 kg with an open interest of 48,440 lots.
Likewise, the oil for delivery in June contracts went up by Rs 2.35, or 0.38 per cent to Rs 620.40 per 10 kg in 23,530 lots.
Analysts said fresh positions built up by traders due to pick up in demand in the spot market, mainly supported the upside in refined soya oil prices at futures trade.