Refined soya oil futures gain 0.38% as demand picks up

Supported by pick up in domestic demand and tight supplies from producing belts, refined soya oil prices traded higher by 0.38 per cent to Rs 571.70 per 10 kg in futures market today.
Market analysts said speculators built up fresh positions due to pick up in demand in the spot market against restricted supplies from growing regions, mainly led to the rise in refined soya oil prices at futures trade.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in far-month October rose by Rs 2.15, or 0.38 per cent to Rs 571.70 per 10 kg with an open interest of 42,275 lots.

Likewise, the oil for delivery in August edged up by Rs 1.05, or 0.18 per cent to Rs 581.25 per 10 kg in 2,43,520 lots.