Refined soya futures up 0.49% on rising demand

Refined soya oil prices rose further by 0.49 per cent to Rs 627 per 10 kg in futures trade today as traders engaged in enlarging their positions, taking positive cues from spot market on strong demand.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in May went up by Rs 3.05, or 0.49 per cent, to Rs 627 per 10 kg, with an open interest of 23,090 lots.
Likewise, the oil for delivery in June was trading higher by Rs 2.15, or 0.34 per cent, to Rs 629.45 per 10 kg in 53,020 lots.
Analysts said expanding of positions by participants, driven by rising demand in the spot market against tight stocks position on fall in supplies from producing belts, mainly kept refined soya oil prices higher at futures trade.