Refined soya oil futures gain 0.36 pc on firm spot market

Refined soya oil prices were trading higher by 0.36 per cent to Rs 648.10 per 10 kg in futures trade today as participants built up fresh positions, taking positive cues from spot market on pick-up in demand.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in August rose by Rs 2.30, or 0.36 per cent, to Rs 648.10 per 10 kg with an open interest of 50,490 lots.
On similar lines, the oil for delivery in July edged up by Rs 1.85, or 0.29 per cent, to Rs 644.50 per 10 kg in 18,040 lots.
Analysts said building up of positions by traders, tracking a firm trend at spot market on uptick in demand against restricted supplies from growing regions mainly led to the rise in refined soya oil prices.