Refined soya oil futures climb 1.10% on spot demand

Supported by strong demand in the spot markets, refined soya oil prices gained 1.10 per cent to Rs 582.50 per 10 kg in futures trade today as speculators created fresh position.
Further, tight supplies from producing belts influenced the price.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in April surged by Rs 6.35, or 1.10 per cent to Rs 582.50 per 10 kg with an open interest of 71,855 lots.
Similarly, the oil for delivery in June moved up by Rs 2.75, or 0.50 per cent to Rs 556.30 per 10 kg in 1,23,885 lots.

Market analysts said apart from firm trend at spot market on strong demand, tight supplies from producing regions led to rise in refined soya oil prices at futures trade.