Refined soya oil futures gain 0.45% on pick up in demand

Refined soya oil prices rose by 0.45 per cent to Rs 593.55 per 10 kg in futures trading today as speculators enlarging positions amid a firm trend at spot market on pick up in demand.
Besides, restricted arrivals from producing belts supported the upside.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in August rose by Rs 2.65, or 0.45 per cent, to Rs 593.55 per 10 kg with an open interest of 1,68,005 lots.
In a similar fashion, the oil for delivery in June edged higher by Rs 2.45, or 0.41 per cent, to Rs 604.50 per 10 kg in 78,430 lots.

Analysts said besides pick up in demand in the spot market, restricted supplies from producing belts mainly led to the rise in refined soya oil prices at futures trade.